Punch officially launches latest 50 managed conversions

Punch Taverns has officially launched the latest batch of 50 pubs it is converted from managed to lease through agent Christie & Co.

The pubs, which are spread across England and Wales, are part of Punch Taverns' 868-strong Spirit Group estate.

The majority of the pubs are offered on 10 to 15 year tied assignable leases. Chris Hedges, special projects director at Punch Taverns, said: "As with any pub operator, we constantly review our estate to maximise the potential of our pubs. One of our key strengths is that we have the ability to make sure that we have the right pub in the right place, operating under the best model. As part of business as usual, we have identified circa 50 pubs to transfer from our managed to leased estates."

Neil Morgan, Christie + Co's Head of Pubs & Restaurants, said: "We are delighted to offer these exceptional pubs for lease to the market. They represent tremendous opportunities for existing and aspiring retailers to operate quality pubs."

In January 2006, Punch Taverns instructed Christie + Co to let approximately 650 pubs from within the, at that time, circa 1,800-strong Spirit Group - the best quality houses ever offered on lease in the UK.

Christie + Co successfully undertook the conversion from managed to leased of circa 630 pubs over an 18 month period across four tranches.