Yields for freehold metropolitan pubs have tightened below 5 per cent for the first time, according to the latest independent valuations of the country's premier pub landlord, ASX-listed ALE Property Group.
Based on independent assessments of 35 of its 86 pubs by valuers Herron Todd White and Opteon, ALE said the weighted average capitalisation rate across its portfolio had tightened to 4.98 per cent from 5.14 per cent over the course of the current financial year.
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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com
