Morgan Stanley Bids to Buy 1,000 UK Pubs from Debt-Laden Stonegate as Pub Decline Creates Real Estate Opportunity
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Morgan Stanley is reportedly bidding to buy around 1,000 pubs from major UK operator Stonegate Group.
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Stonegate owns over 4,500 pubs but is looking to sell some to address almost £4 billion in debt.
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The sale comes as UK pubs face decline, with over 14,000 fewer today than in 2000.
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Morgan Stanley may see an opportunity to acquire UK real estate on the cheap and potentially convert pubs into residential spaces.
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The bank has been bearish on commercial real estate like offices and may be pivoting its strategy.