Enterprise raises another £9.9m at auction

Enterprise Inns has raised £9.9m selling all of the nine pubs it put up for auction today.

The company sold the freeholds of the pubs with a 35-year leaseback at an auction held by Allsop in London's Park Lane Hotel.

It had hoped to raise around £11m selling 11 pubs at the auction, but two were withdrawn.

The pubs sold were:

The White Ferry House in Pimlico, sold for £1.55m - it had a guide price of £950,000 to £1m, with rent of £70,000pa. The yield is 4.52%.

Ruby Lounge in Islington, sold for £880,000 - it had a guide price of £850,000 to £900,000, with rent of £65,000pa. The yield is 7.39%.

The White Swan in Richmond, sold for £1.2m - it had a guide price of £900,000 to £950,000, with rent of £70,000pa. The yield is 5.83%.

The Rocket in Acton, sold for £1.07m - it had a guide price of £1m to £1.1m, with rent of £80,000pa. The yield is 7.48%.

Harwood Arms in Fulham, sold for £1.51m - it had a guide price of £925,000 to £975,000, with rent of £70,000pa. The yield is 4.64%.

Yorkshire Grey in Bloomsbury, sold for £1.2m - it had a guide price of £1.1 to £1.2m, with rent of £90,100pa. The yield is 7.5%.

Old King's Head in Bishopsgate, sold for £800,000 - it had a guide price of £750,000 to £800,000, with rent of £60,000pa. The yield is 7.5%.

The Londesborough in Stoke Newington, sold for £725,000 - it had a guide price of £700,000 to £750,000, with rent of £55,000pa. The yield is 7.59%.

Horse and Hound, in Broadway, Worcestershire, sold for £990,000 - it had a guide price of £950,000 to £1m, with rent of £75,000pa. The yield is 7.58%.

The Fat Badger in North Kensington (guide price £975,000 to £1.025m, rent £75,000pa) and Island, Kensal Rise, (guide price £950,000 to £1m, rent £75,000pa) were both withdrawn before the auction began.

Enterprise will sell a further four pubs, hoping to raise around £3.4m, at an Acuitus auction in London on 9 December.