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Scottish & Newcastle to lease 15 refurbished pubs

18 May 2010

Scottish & Newcastle Pub Company (S&NPC) is offering leases on 15 refurbished pubs across the country.

The company said it would spend a total of £1.7m on the pubs, which stretch from Truro in Cornwall to Inverness in Scotland.

The level of investments range from £30,000 to £385,000, according to Christie & Co, which is marketing the leases.

S&NPC recently launched a new investment programme, which will see the company commit £10.5m in 2010 on upgrading 175 pubs.

Andrew Cannons, projects & acquisitions director at S&NPC, said: "We have identified target consumer groups, consumer occasions and the right offer for each of these pubs. What we now require is funded lessees with drive, determination and passion to succeed, to help translate this vision in to reality."

Anthony Jenkins, associate director at Christie & Co, said: "In these difficult times it is encouraging that a major pubco has the foresight to invest in its core estate to offer budding entrepreneurs the chance to trade through the current challenging market conditions. The support of S&NPC means these pubs represent excellent opportunities for potential lessees to develop successful and sustainable businesses."

Pictured: The Red Lion in Bracknell, Berkshire, is one of the pubs to be refurbished.

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Ex Greene King boss heads up new pub company >>

By Neil Gerrard

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