The advisor, which is acting on behalf of joint administrators Deloitte, also said that around a quarter of the original estate of just over 200 pubs is currently off-market as revised trading terms are agreed with existing tenants, new tenants are sought and installed and sites are developed for alternative use.
The former Tchenquiz-owned companies, which were formed in 2007, comprised R&L Properties No 1 Ltd, R&L Properties No 2 Ltd and R&L Properties No 5 Ltd (in administration).
Ian Wormleighton, director in Deloitte’s restructuring services team, said: “The Joint Administrators are pleased to have realised excellent value for 80 properties within the estate and continue to pursue strategies to maximise recoveries for creditors from the remaining portfolio.”
Simon Chaplin, director of Christie + Co, said: “We continue to sell the remaining estate throughout England, Scotland and Wales. These sites are being sold with vacant possession or investment opportunities, for continued pub operation or for alternative use.”
Last month, chartered Surveyors Eddisons were appointed to market a further 50 pubs that were formerly part of property tycoon Robert Tchenguiz’ pub property empire.