126 ex-Tchenguiz pubs for sale

04 April 2011 by
126 ex-Tchenguiz pubs for sale

Property agent Christie + Co is marketing 126 pubs owned by R&L Properties, previously part of the pub portfolio of property investor Robert Tchenguiz.

The properties are on sale after Deloitte, which is acting as administrator for the estate, put them on the market with the agent.

Most are being sold as investments with long-term tenants in place, although a number are available with vacant possession.

James Shorthouse, director at Christie + Co, said: "The almost exclusively freehold R&L portfolio includes many successful, high volume outlets located across the UK, including city centre bars, community pubs and destination inns. We know these will be attractive both to PubCo investors, attracted by the geographical spread and high quality of the pubs, and to tenants looking to make the transition to owning their freehold. There are a number of development opportunities available and we have already received significant interest.

"The R&L pubs offer great growth opportunities, and the introduction of an improved drinks range by the new estate managers, LSLT, is set to deliver an upturn in trade for lessees."

Neville Kahn, Philip Bowers and John Reid of Deloitte were appointed Joint Administrators of R&L on 11 January 2011.

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By Neil Gerrard

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