Four Corners Property Trust, a US-based real estate investment trust (REIT) specialising in net-lease restaurant properties, has acquired a Buffalo Wild Wings location in the United Kingdom, the company confirmed on Wednesday. The acquisition marks another step in the American casual dining brand’s push into the British market, which began with its first UK outlet in 2021.
Financial terms of the transaction were not disclosed. However, FCPT typically targets properties with long-term leases and investment-grade tenants. Buffalo Wild Wings, owned by Inspire Brands, operates over 1,200 locations globally and has been gradually building its UK presence, with sites in cities including London, Manchester and Birmingham.
The deal comes as UK commercial property investors show renewed interest in food-and-beverage assets, particularly those backed by strong covenants. Net-lease structures, where the tenant covers insurance, maintenance and taxes, offer predictable income streams — a draw for REITs and pension funds seeking stable returns in an uncertain interest-rate environment.
For UK pension holders and investors, the transaction highlights the growing cross-border appetite for British commercial real estate. While the FTSE 100 remained flat on Wednesday, the FTSE 250 edged up 0.3%, with real estate stocks among the better performers. Sector analysts noted that US-based REITs are increasingly looking to the UK for yield, given the relative stability of the British pound and the recovery in consumer footfall.
“The UK casual dining market has shown resilience, and brands like Buffalo Wild Wings bring a loyal customer base,” said a property analyst at a London-based research firm. “For FCPT, this acquisition fits a proven model of acquiring single-tenant assets with strong operators.”
The purchase also reflects wider trends in the UK hospitality sector, where restaurant chains are rationalising portfolios while expanding formats that appeal to younger diners. Buffalo Wild Wings, known for its sports-bar atmosphere and chicken wings, has positioned itself as a mid-market option in an increasingly competitive segment dominated by US imports such as Five Guys and TGI Fridays.