Pub packages from Enterprise and Voyager attracting interest
Nearly 150 Enterprise Inns pubs have been put up for sale, with 70 Voyager Pub Group pubs also on the market.
The disposals, details of which have been released in the past week, are further evidence that movement in the pub market is beginning to increase once more.
There are 144 Enterprise Inns on the market with agent Christie & Co. They are spread throughout England and South Wales, with a concentration in the North and the West Midlands.
The type of pubs that make up the group are varied.
Most are community locals, although there are also some pubs with investment income from existing tied leases as well as several village pubs and high street sites.
Alongside those pubs that are already performing well are some which the agent has highlighted as having "development potential" - many of which have attracted a large amount of interest in the first week of marketing.
Ian Garrood of Christie & Co said one such development site in North West London had attracted 10 offers within a week of going on the market - three of which were over £1m.
The disposals are part of Enterprise's ongoing rationalisation. Most of the pubs that the company sells as part of this process, known as "churning", go to individuals and multiple operators although some are sold for alternative use.
Enterprise has been in the news recently with a great deal of media speculation over its involvement in the race to buy the Nomura-owned Unique Pub Company and the Voyager Pub Group.
There has been speculation of further movement in the market, with Hertford family brewer McMullen & Sons the latest company to consider selling its brewery and 150-pub estate.
Coincidentally 70 Voyager pubs have also gone on the market with Sheffield-based agent Brownhill Vickers.
The pubs are in Yorkshire, the East Midlands and the Potteries and were first marketed at an open day organised by the agent.
"Because this package of pubs represents what was previously part of the Bass Leisure Retail managed estate, it offers lessees a unique opportunity to take on quality, high-trading outlets," said Rodger Vickers of Brownhill Vickers.
"The reaction we have had is positive. In fact, one man was so keen to know more about the pubs on offer he arrived at the open day two hours early."
The pubs are all available on new leases and will continue to be marketed through more, smaller, open days.
- Christie & Co: 0161 833 3311
- Brownhill Vickers: 0114 290330
