The ALE Property Group swung from a capital growth story to a rental income play in the second half of last year in what could be a sign of things to come for the pub sector more broadly.

Over the six months to December, the specialist A-REIT booked a 4.26 per cent increase in average passing rents after maximum 10 per cent rent increases were agreed by its tenant, Woolworths-backed operator ALH, on 34 out of 79 properties as part of a market rent review process.