Scottish & Newcastle seeks lessees for 48 vacant pubs

Located across the UK, the pubs are in a variety of markets; 37 are community pubs, eight are high street pubs and bars and three are food-led.

The company said that the pubs had been selected for their “growth potential”. S&NPC said it had created fully costed design proposals and business plans for each site.

The minimum spend will be £40,000 and the maximum £295,000, with an average of £107,000.

The group said that in a new move, all the sites would be marketed as they would look post investment to help interested parties to “easily envisage the changes being made”.

Work will be begin at each pub on the appointment of the new lessee. 20 of the sites are available for lease now, a further 28 will be added over the course of 2012. The majority of the pub pubs are currently being traded by management companies.

The company said the opportunities were most suited to experienced pub operators and business people looking for an investment opportunity and the chance to take a pub in a new direction from the start.

S&NPC said the investment would be focused on adding additional income streams, such as coffee and wi fi to food and extended trading areas. Letting rooms will be created at two pubs.

Andrew Cannons, S&NPC’s head of property, said: “This is a great selection of pubs which will appeal to those wanting to make an instant mark and see strong growth early on.

“In the past we have followed the traditional approach of marketing investment pubs as they currently look with mood boards to give an idea of how they will change. This time we wanted to give interested parties a much more accurate feel for how the pubs will be post refurbishment and have used photography and design in a new way to help them visualise the finished article.”