Punch to sell 36 managed pubs for £36m

04 May 2010
Punch to sell 36 managed pubs for £36m

Punch Taverns hopes to raise £36m from the sale of 36 managed houses in England and Scotland.

The property firm Colliers CRE has been instructed to sell the sites either individually or as a whole, with guide prices of between £450,000 and £1.8m.

The properties include Balm Well in Edinburgh, Royal hotel in Purfleet and Elms hotel in Retford.

Andrew Watt, Director in the Licensed and Leisure team, who is coordinating the disposal project on behalf of Punch, commented: "These public houses present an opportunity for individual entrepreneurs together with larger pub and hotel groups to obtain excellent assets".

James Boshier, Head of Estate Development at Punch Taverns, commented: "We have instructed Colliers CRE to actively market the sites through its network of regional offices and using its well respected Licensed and Leisure team".

Punch Taverns' share value soars after debts cut by £1b >>
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By Neil Gerrard

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