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METRO BANK RAISES A GLASS TO APRIROSE

Metro Bank, the revolution in British banking, has provided real estate investment company Aprirose with £22 million in funding to facilitate the acquisition of a 73-strong portfolio of pubs from Mitchells and Butlers.

 

The new debt facility provided by Metro Bank has supported Aprirose with the purchase of the portfolio to be operated under a new pub company banner, Milton Pubs and Taverns. Aprirose has appointed pub-operator LT Management Services (LTM) to manage the assets, which include 65 freehold and eight leasehold properties across England, Scotland and Wales.

 

Manish Gudka, CEO at Aprirose, said: “The acquisition of the Milton Pubs and Taverns portfolio, with support from Metro Bank, was executed in only 51 days and is indicative of our fast-paced and nimble business, underpinned by our multi-disciplinary team. Our strong relationship with Metro Bank has assisted our ability to acquire such a strong portfolio for our investors, and we look forward to building on that relationship as we continue to grow our £1.2 billion real estate portfolio.”

 

Matthew Walton, Head of Hospitality & Leisure at Metro Bank said: “We are delighted to have supported Aprirose with this transaction, which is their first management contract in this sector adding to their diverse real estate portfolio. We are committed to the hospitality sector and supporting deals of varying size, and look forward to working with both Aprirose and LTM on this and future transactions.”

 

Metro Bank was advised by the law firm, Dentons and commercial real estate services and investment firm CBRE, on the valuations.

 

 

ENDS

 

Notes to Editors

For more information, please contact:

Sheena Dave

Metro Bank

020 3427 1468

pressoffice@metrobank.plc.uk

 

 

About Metro Bank

 

Metro Bank operates retail hours, not banking hours. It is open seven days a week (8am- 8pm Monday to Friday, 8am – 6pm Saturday, 11am – 5pm Sunday and bank holidays), every day of the year apart from Easter Sunday, Christmas Day and New Year’s Day.

 

Metro Bank PLC. Registered in England and Wales. Company number: 6419578. Registered office: One Southampton Row, London, WC1B 5HA. ‘Metrobank’ is the registered trade mark of Metro Bank PLC.

 

We’re authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Most relevant deposits are protected by the Financial Services Compensation Scheme. For further information about the Scheme refer to the FSCS website www.fscs.org.uk.

 

All Metro Bank products are subject to status and approval.

 

Metro Bank PLC is an independent UK bank – it is not affiliated with any other bank or organisation (including the METRO newspaper or its publishers) anywhere in the world. Please refer to Metro Bank using the full name.

 

 

About Aprirose

 

For 30 years, Aprirose, the London based real estate investment company, has been delivering consistently high returns across a variety of different sectors and geographic markets.  The company has a portfolio of over £1.2bn of commercial and residential real estate under management.

 

Aprirose’s diverse portfolio, which is larger than that of some of better-known institutions, is managed by a senior, multidisciplinary team.  The team has a wealth of experience and knowledge of the cyclical property market and are uniquely positioned to act on areas where they identify potential and advantage. www.aprirose.com

 

 

 

Sheena Dave

Assistant PR Manager

One Southampton Row

London, WC1B 5HA


Direct Line: 
+44 (0)20 3427 1468

Mobile:        +44 (0)7530 588 750

Email:           sheena.dave@metrobank.plc.uk

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