Cervidae has acquired the freehold of The North Laine Brewhouse in Brighton from Gloucester Enterprises for an undisclosed price.
The five-storey property, which dates back to 1819, occupies a prominent site on the corner of Gloucester Place and Gloucester Street in the North Laine district.
The sale includes the public house, which occupies the ground floor and basement with a manager’s flat at first floor level, and eight flats located above which are let on assured shorthold tenancies. The property trades under Laine Pub Company – a subsidiary of Punch Pubs.
Mark Hus, asset manager at Cervidae, said: “We’re delighted to acquire this substantial high-profile property. We have been seeking an opportunity in Brighton for some time, and North Laine Brewhouse is an excellent addition to our portfolio. Its strong location and established tenant mix align well with our long-term investment strategy.”
Nick Earee, divisional director of Fleurets South, which acted for the vendor, added: “North Laine is an historic property and a strong investment in one of Brighton’s most vibrant and desirable districts that continues to attract significant interest for both hospitality and residential investment. We are thrilled to have sold this prime asset and achieved a successful outcome for both the vendor and Cervidae.”
Elysia Wilson-Gunn, divisional director of Fleurets London, said: “Cervidae’s acquisition of North Laine Brewhouse reinforces the strength of Brighton’s property market. We are very pleased to have facilitated this investment sale and look forward to seeing the venue continue to thrive with Laine Pub Company trading well as their tenant and the value-add element of the residential property above.”
Spencer West LLP acted for Gloucester Enterprises.
