Enterprise Inns to auction off more pubs
Enterprise Inns, which announces it annual results tomorrow, is auctioning off another clutch of London pubs as part of its debt reduction strategy and plans to lease them back as head lessee.
And for the first time a pub is being sold through auctioneers Allsop to be leased back by the pubco that isn't in the capital.
The Horse & Hounds is in the affluent Worcestershire village of Broadway, in the Cotswolds.
Guide prices for the 11 pubs due to be auctioned on December 7 have not been revealed. However the total rent bill for the properties is £785,000.
With historic yields on previous sale and leaseback sell-offs in the region of six and seven per cent, the proceeds could total £11m or more.
The pubs being sold off are:
The White Ferry in Pimlico, London
The Fat Badger, Notting Hill, London
The Ruby Lounge, King's Cross, London
The Rocket, Acton, London
The Harwood Arms, Fulham
The White Swan, Richmond-upon-Thames, London
The Island, Kensal Rise, London
The Yorkshire Grey, Clerkenwell, London
The Old King's Head, Bishopsgate, London
The Londesborough, Stoke Newington, London
The Horse & Hound, Broadway, Worcestershire
