Enterprise raises £2.65m at auction

Enterprise Inns has raised another £2.65m by selling the freeholds of three pubs it put up at an Acuitus auction in London today.

One pub sold £87,000 above its guide price, and the two others sold within their guide prices. The pubs were offered on a 35-year sale and leaseback deal, and the total rent roll across the three pubs is £190,000.

They are:

The Lord Clyde in Essex Road, Islington, London N1, sold for £870,000. Rent: £65,000pa, guide price: £850,000-£900,000

The Walrus Social in Westminster Bridge Road, London SE1, sold for £915,000. Rent: £60,000pa, guide price: £775,000-£825,000

The Coach & Horses, Clapham Park Road, London SW4, sold for £870,000. Rent: £65,000pa, guide price: £850,000-£900,000

In addition to the three Enterprise pubs, the freehold of the Railway Bell in New Barnet, which is currently let to JD Wetherspoon, sold prior to the auction. It has rent of £104,932pa, and the guide price was over £1.6m.