Third set of 93 pubs up for sale, include ex-Pubfolio sites

The pubs are being offered for sale through Christie+Co on behalf of PwC, joint administrators of Pubfolio and Goldtry, both of which collapsed in September 2009.

The latest disposals follow a 74-strong package that was placed on the market in February, with a further 49 sites being offered for sale in June. In total c.400 pubs are expected to come to the market, with the remaining c.180 sites due to be split into two further tranches.

Of the initial 123 pubs marketed, around three quarters are understood to have already been sold.

Noel Moffitt, director at Christie+Co, said that the sold pubs had been picked up either by pub operators or for alternative use and expected the newer sites to appeal to the same mix of potential buyers.

The latest properties, which include a significant number in the south-west, are believed to be available to purchase individually or in groups and are offered as vacant possession.

Ted Kennedy, the veteran pub entrepreneur, is currently overseeing business at the remainder of the Pubfolio and Goldtry freehold tenanted pubs Pubfolio established itself at the beginning of 2005 after completing on a deal
to buy 545 pubs, part of the old Innspired estate, from Punch Taverns for £162m.

The pubs were managed by County Estate Management. The group’s business model was to sell chunks of the estate to property investment outfits — a strategy that suffered in the light of the economic downturn.

The Wiltshire-based operator fell into administration owing in excess of £50m.