Punch Taverns buys Scorpio Inns for more than £17m

09 October 2006
Punch Taverns buys Scorpio Inns for more than £17m

Punch Taverns has bought 69 pub freeholds from owner ING Real Estate Income Trust for more then £17m.

The pubs, located principally in Wales, Hertfordshire and South-west England were held under the Scorpio Inns name and operated under a sale-and-lease back arrangement with Punch Taverns.

Punch exercised the first of three options to buy the portfolio last month, buying the freeholds on a third of the boozers for just less than £3m.

Although Punch's third and final option to acquire the remaining Scorpio pubs doesn't mature until October 2016, both parties instead agreed to seal the deal ahead of schedule for £17.55m in total.

Giles Thorely may quit Punch Taverns >>

Punch Taverns confident ahead of English smoking ban >>

Punch Taverns sells Old Orleans chain to Regent Inns >>

By Chris Druce

E-mail your comments to Chris Druce](mailto:chris.druce@rbi.co.uk?subject=Punch Taverns buys Scorpio Inns for more than £17m) here.

Get your copy of Caterer and Hotelkeeper every week -

[Sudoku](http://www.caterersearch.com/Articles/Article.aspx?liArticleID=302619 "A new puzzle every day!") Join the craze and play Sudoku online!
[Newswire For the latest hospitality news, sign up for our e-mail news alerts.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking