Royal Bank of Scotland to sell off 900 freehold pubs

13 May 2011 by
Royal Bank of Scotland to sell off 900 freehold pubs

The Royal Bank of Scotland (RBS) is to sell off about 900 freehold pubs it acquired from brewer Scottish & Newcastle around 10 years ago.

RBS is reported to be on the point of appointing advisers from corporate finance firm Sapient, according to the Daily Telegraph.

The deal is estimated to be worth in the region of £600m. The freehold of Guy Ritchie's Mayfair pub, the Punch Bowl, is one of those thought to be up for sale.

The original deal with Scottish & Newcastle was considered innovative at the time because the company continued to provide property management and beer to the pub estate after the transaction with RBS was completed.

Scottish and Newcastle to sell 43 pubs >>

Scottish & Newcastle to lease 15 refurbished pubs >>

Scottish and Newcastle launches lessee accountancy package >>

By Neil Gerrard

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