Scottish & Newcastle Pub Enterprises puts 32 pubs on market

Scottish & Newcastle Pub Enterprises (S&NPE) has placed 32 pubs on the market with an approximate total value of £6m to £12m.

The group includes 18 pubs with an established food trade or the opportunity to start one, and 11 with letting rooms or space suitable for conversion into accommodation.

S&NPE said the move would allow it to focus on its core business of managing pubs rather than owning them.

Chris Moore, S&NPE's property director, said: "These are pubs which, for various historical reasons, we directly own. Our business model is based on pub management and we are therefore simplifying our operations by selling them."

The pubs are on the market through property agent Fleurets with the majority priced in the £200,000 to £400,000 price range.

Moore said it was the right time to sell, as with pub prices now back to more realistic levels, those buyers put off by the previous high prices of 18 months ago were now returning to the market.

In December, property company Active Asset Investment Management (AAIM), which is backed by Sir Alex Ferguson and Sir David Frost, went into administration. S&NPE manages a number of AAIM properties under its Discovery Pub Company brand.

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By Chris Druce

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