Auction prompts sales for pubcos
A Bristol auction brought mixed results for Admiral Taverns and Enterprise Inns last week.
Admiral had three pubs in the auction, none of which sold, while Enterprise had four; two of which sold prior, one was withdrawn and the remaining one did not sell.
Admiral Taverns' pubs the Pioneer Hotel, in Ynysddu, near Newport, Gwent, the Kings Arms at Midsomer Norton, Radstock, Avon, and the York House, at Gloucester, failed to sell on the day, though an Admiral spokesman said there had been interest in the pubs following the auction.
Enterprise Inns' pubs the Cross Inn, at Morriston, Swansea, and the Garland Ox, Bodmin, Cornwall, sold prior to auction for undisclosed amounts while Swindon's the Fishes didn't sell at the auction, but is currently under offer. The Cardiff Arms Hotel, at Treorchy, Mid Glamorgan, was withdrawn.
John Cameron of Admiral Taverns said: "We have used auctions previously, though we're not huge fans of them as a way of disposal. We already have a very successful way of disposing of our estate, but we are open-minded."
Enterprise Inns' head of estates, Simon Millar, said it was continuing to sell "a small handful of pubs at auction, as and when they come along".
The auction was held at Jury's hotel in Bristol, by auctioneers Breach Wood Ingram.
