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 casualties.

“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 future.”

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 information.

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