Greene King puts 16 ex-Old English Inns pubs up for sale

Greene King has put 16 of the pubs it acquired in last year's takeover of Old English Inns up for sale.

The properties, all traditional inns, are being sold individually to private or corporate buyers, and some are likely to change use.

The Suffolk brewer is transferring much of the 135-strong Old English estate to leasehold, and the properties earmarked for disposal are among those which do not fit its criteria for conversion.

While some are freehold, others were held by Old English on tied leases from operators such as Punch, Unique and Laurel.

The properties now on the market through Christie & Co include the freehold of the historic Grosvenor Hotel (pictured)​, in Shaftesbury, Dorset, mentioned by Thomas Hardy in his novel Jude the Obscure. The town centre coaching inn dates back over 400 years and was originally called the Red Lion. The three-storey property was rebuilt in the early 19th century as the Grosvenor Arms.

Chris Kent of Christie & Co's Winchester office, said: "We have received strong interest from local licensed operators as well as from developers looking to convert the hotel for alternative use. There is every possibility that the hotel will be kept as a going concern. With some capital investment there is excellent potential to restore this hotel to its former glory."

Greene King paid just over £100m for Old English last September, and is investing £5m in converting pubs to leasehold.

Related stories:​

Greene King takes control of Old English Inns (27 September 2001)

Greene King makes offer for Old English Inns (7 September 2001)