Stonegate puts 20-strong portfolio up for sale
The pubs, which are located across the country, have been marketed separately but will be considered for sale individually or in packages. The combined guide price of all the pubs totals £18,760,000.
A spokesperson for Stonegate told The Morning Advertiser (MA): “Stonegate, in common with almost every pub company in the UK, will dispose of some sites in any given year, and this is very much a standard aspect of doing business.
Disposals
“These sites sit within our commercial property division and therefore form part of our free of tie estate.
“They are marketed individually, and we will proceed with disposal as and when we feel we have an offer worthy of consideration.”
The sites up for sale include the Amble Inn, Harpenden, with a guide price of £715k, Bedford Street in Leamington Spa, on the market for £1,330,000, the Heart & Hand in Brighton with a guide price of £535k as well as The Pheasant in Sheffield, which is on the market for £555k.
Stonegate, which is the UK’s largest pub company with more than 4,500 sites nationwide, has appointed Savills estate agents to conduct the sale.
Charming pubs
Savills director in licensed leisure team Stuart Stares told The MA: “We have been appointed by Stonegate Group to handle the sale of these 20 charming free of tie public houses in popular locations all across England.
“The properties are occupied by a range of good quality individual and small multiple operators and are available for sale either individually or in packages.”
Last month, Stonegate Group announced the agreement of its debt refinancing requirements with a £250m shareholder contribution from owners TDR Capital in a bid to “significantly simplify and strengthen” its balance sheet structure.
In December last year the pubco also revealed the financing of 1,034 pubs.
