ei commercial properties
To maximize the value of Group assets using our commercial property expertise
The Group’s commercial property business manages a developing portfolio of assets which it leases to third parties on commercial property terms. The portfolio incorporates predominantly pub assets, which are let to tenants on a commercial free-of-tie basis and also assets that were previously pubs, now converted to an alternative use (such as a convenience store). Our tenants include household names as well as independent public house and restaurant operators.
We work alongside other business units in evaluating Group assets, identifying opportunities to optimise value by bringing assets into our commercial property portfolio. While this will often be by granting a lease on a free-of-tie basis, we also add value by obtaining planning consents and deploying development capital where there is opportunity to release the embedded value in properties through development.
As we have limited opportunity to influence the operation of these properties we do not see ourselves as long-term owners of such sites.