S&NPE puts 32 pubs up for sale

Scottish & Newcastle Pub Enterprises (S&NPE) has put 32 pubs it owns on the market in order to concentrate on managing pubs on behalf of contract partners.

S&NPE manages tenanted pubs on behalf of Globe Pub Company and the Royal Bank of Scotland.

The pubs are priced between £200,000-£400,000 and are spread across England and Wales in rural, suburban and town centre locations.

The pubs are either on short-term leases or being operated by temporary management companies.

"These are pubs which for various historical reasons we directly own," said S&NPE property director Chris Moore.

"Our business model is based on pub management and we are therefore simplifying our operations by selling them."

Moore added that he believed, despite the continuing economic uncertainty, it is the right time to sell. "The market has got back to a more realistic level and potential purchasers who were wary of high prices 18 months ago are now returning. And, with less big pubcos acquiring at the moment, smaller players are not being priced out of the market.

"Despite the credit crunch, there are still plenty of people out there with cash and the mid range pricing of our properties is one they can afford.

"The pubs we are selling all have growth potential and offer real opportunities for purchasers to add value. This, combined with sensible prices, means we are expecting a good level of interest."

The pubs are being sold through Fleurets.