Last of Robert Tchenguiz's R&L Properties pubs sold

05 June 2014 by
Last of Robert Tchenguiz's R&L Properties pubs sold

All of the pubs in what was Robert Tchenguiz's R&L Properties have now been sold after Hawthorn Leisure completed a deal to buy the last 88 earlier this week.

Property agency Christie + Co was originally instructed to sell the estate comprising R&L Properties No 1 Ltd, R&L Properties No 2 Ltd and R&L Properties No 5 Ltd (in administration) by the administrator Deloitte in 2011.

The other 119 pubs from the estate were sold to individual purchasers.

In late 2011 Christie + Co also sold the 37 pubs from sister company R&L Properties No 6 Ltd. The total sum of the transactions across all four of the R&L companies approached £75m.

Simon Chaplin, director of Christie + Co led the sales process. He said: "The almost exclusively freehold R&L portfolio included many successful, high volume outlets located across the UK, including city centre bars, community pubs and destination inns. Ultimately, these proved attractive to purchasers such as Hawthorn Leisure and Red Oak Taverns, as well as a host of individual buyers. Happily, the vast majority of pubs were sold as going concerns meaning that a high volume of the portfolio remain in the UK pub estate."

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