Christie + Co provides assistance following the demise of LESG
05 October 2006
Christie + Co, the leading agents and valuers, report that they
have received a significant number of phone calls from concerned
freehold investors and tenants following the demise of the London
& Edinburgh Swallow Group.
Since Ernst & Young’s appointment as administrators to
the London & Edinburgh Swallow Group companies, the closure of
26 hotels and managed pubs has been announced. It has also been
reported that Ernst & Young will be handing back the leases of
more than 450 tenanted pubs to private freehold owners.
“There were 671 sites in total in the LESG
portfolio,” says Christie + Co Director and Head of Pubs
& Restaurants Colin Wellstead. “Although approximately
250 sites have been sold by Ernst & Young, there are many other
“A large number of freehold owners, who had invested in
pubs that were managed by LESG, are faced with the prospect of
accepting the keys to these empty properties”, explains
Wellstead. “Others, who invested in properties that were
sub-let by LESG to individual tenants, are concerned about the
levels of rental income they can expect to receive in the
Christie + Co’s specialist pub and hotels teams have
already advised a number of private investors and tenants who are
in need of assistance. “We will be pleased to provide help
and advice to LESG investors and tenants who are unsure of what the
future holds for their businesses and investments,” adds
Christie + Co Director and Head of Hotels Jeremy Hill.
Contact Christie + Co on 020 7227 0700 for further
For further information on this press release, please contact:
Lorna Byrne at Christie + Co. Tel: 020 7227 0797 or 07734 856836.