Christie + Co to sell another 37 ex-Tchenguiz pubs
Property firm Christie + Co is to market a further 37 pubs owned by R&L Properties, previously part of the pub portfolio of property investor Robert Tchenguiz.
PricewaterhouseCoopers has been appointed the administrator for R&L Properties No.6 Limited, from which company the 37 pubs have been placed on the market for sale.
The pubs, consisting of city centre bars, community pubs and destination inns, are largely situated in England, with just three in Scotland - 21 are located in the south and west of England. All but two of the pubs are available freehold, with the remainder on very long leases. Many of them are investments with tenants in place.
Christie + Co was previously instructed to market 126 R&L pubs from R&L Properties No 1 Ltd, R&L Properties No 2 Ltd and R&L Properties No 5 Ltd.
Neil Morgan, director and head of pubs at Christie + Co, said: "This instruction from the administrator includes many high quality outlets, benefiting from their almost exclusively freehold tenures. Our recent experience tells us that these pubs will be of significant interest to pubco investors and to tenants looking to make the transition to owning their freehold. We're delighted to have received the instruction and extremely confident that the 37 pubs will generate great interest."
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By Neil Gerrard
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