Admiral Taverns knocks average of 20% off sale properties

Pub company Admiral Taverns is dropping the asking prices on 50 of the 250 sites it is selling by an average of 15-20%.

The firm instructed property agent Fleurets to knock down the prices of the properties to encourage a faster sale.

Commenting on the move, Nick Germani of Fleurets said: "These reductions will no doubt stimulate interest in these sites. The circa 250 sites are a real mixed bag, from pubs with trading history that are crying out for an operator to breathe new life into them, through to units that are destined for alternative use. Either way, we expect interest to be brisk given this announcement."

Admiral Taverns confirms sale of 150 pubs >>

Hotels, restaurants and pubs lose around one-third of their peak values >>

By Neil Gerrard

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