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Scottish and Newcastle to sell 43 pubs

15 March 2010 by
Scottish and Newcastle to sell 43 pubs

Scottish & Newcastle Pub Company (S&NPC) is to sell 43 pubs in England and Wales with Fleurets this week.

All of the sites are freehold and are mostly in urban locations and either closed or on short-term arrangements so could be sold with vacant possession.

Chris Moore, S&NPC's property director said the pubs are priced between £100,000 and £625,000, with an average asking price of £243,000.

Moore said: "This sector of the market has bounced back in recent months. Many operators and investors looking at pubs in the £250,000 mark have cash and therefore do not need to find funding. With interest rates low and the economic outlook still uncertain, this type of property is an attractive investment option providing the opportunity for purchasers to add value, the benefit of long term capital appreciation and a decent annual income."

Moore said he expected the pubs to be of interest to individual operators and property investor/developers as well as local and regional pub companies for some of the larger sites.

S&NPC is selling the sites on behalf of the Blue Star Pub Company, its joint venture with Feoh Investments Ltd.

The company has sold over 230 pubs in the last three years.

Pictured: The Derby Arms on Widnes Road in Widnes, priced at £250,000.

Bar Boosters programme offers S&N licensees new ways to make money >>

Urban & Country Leisure to expand to 30 pubs >>

S&N removes beer tie from 19 empty pubs >>

By Neil Gerrard

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