Christie + Co markets c.300 pubs for Punch Taverns
25 September 2009
Christie + Co has been instructed by Punch Taverns, the
UK’s largest pub company, to market more than 300 individual
pubs from its turnaround division.
The pubs, some of which have previously been on the market, are
spread throughout the UK and range in price from nil premium leases
to £500,000. Over 90% of the sites are freehold and most are
available with vacant possession.
Punch Taverns said: “Some of these sites have already been
on the market but they are being relaunched through Christie + Co,
many at revised prices, to stimulate interest and secure
Neil Morgan, Christie + Co’s Head of Pubs, said: “We
expect the majority of these pubs to continue to be operated as
licensed premises, although a significant number will provide ideal
alternative-use opportunities across the residential, commercial
and retail sectors.”
This instruction follows previous campaigns undertaken by
Christie + Co for Punch, including the letting in 2006/7 of a third
of the company’s managed house division Spirit Group –
the best quality houses ever offered on lease in the UK. Christie +
Co successfully undertook the conversion from managed to lease of
circa 630 pubs over an 18 month period.
In late 2008, Punch Taverns instructed Christie + Co to offer 50
of its managed houses either as freehold or lease opportunities.
Christie + Co successfully completed the marketing of the majority
of this package earlier this year.
For further information on this press release, please contact: Mark
Wingett at Christie + Co. Tel: 020 7227 0794.