Christie + Co to sell more ex-Tchenguiz pubs

The 37 pubs were part of Tchenguiz’s R&L Properties No.6 company, which was placed in administration with PricewaterhouseCoopers last month.

The pubs consist of city centre bars, community pubs and destination inns. Twenty one of the outlets are in the south and west of England, with three in Scotland.

All but two of the pubs are available freehold, with the remainder on very long leases. Many are being sold as investments, with tenants in place.

Christie + Co was previously instructed to market 126 pubs from sister companies R&L Properties No 1, R&L Properties No 2 and R&L Properties No 5, which fell into administration earlier this year.

Neil Morgan, director and head of pubs at Christie + Co, said: “This instruction from the administrator includes many high quality outlets, benefiting from their almost exclusively freehold tenures.

“Our recent experience tells us that these pubs will be of significant interest to pubcos investors and to tenants looking to make the transition to owning their freehold. We’re delighted to have received the instruction and extremely confident that the 37 pubs will generate great interest.”

Licensed Solutions and LT Pub Management (LSLT) replaced Scottish and Newcastle Pub Company as the managing agent of the 37 pubs when R&L Properties No.6 went into administration.

David Hurst, joint administrator and director at PwC, said at the time: “The company has suffered as a result of the ongoing economic challenges facing the pub sector. Having run out of alternative options, the company was placed into administration.

“Our immediate priority is to seek buyers for the remaining pubs in order to enable their long term survival. While buyers are sought, we have engaged London Town Management services to ensure that the tenants will be able to continue to run their businesses as usual.”