Property consultants Colliers International and Ryden have been jointly instructed to find tenants for the sites. They are available for rents ranging from circa £15,000 to £78,000 per annum, depending on the occupational package agreed.
The new instruction is in addition to a broader remit, which Colliers International and Ryden have held for a number of years, to dispose of Punch’s non-core assets throughout Scotland.
The pubs are located as far north as Newburgh, Fife, and as far south as Eyemouth, close to the border in Berwickshire. Many are also located in the central belt.
The portfolio includes the Two Bridges in South Queensferry, West Lothian, the Ythan Hotel in Newburgh and the Black Bull Hotel in Killearn, Stirlingshire.
Brian Davidson, regional operations director at Punch, said: “We have instructed Ryden and Colliers International to assist in our dealings with these core assets due to their reputation and standing in the Scottish commercial property market, their strong contact base and their expertise in the sector. We are delighted with the deals they have helped us sign to date.”
Andy MacPherson, head of licensed & leisure at Ryden, said: “These Punch pubs present fantastic opportunities, with flexible leases and substantial investment, for entrepreneurs looking for strong assets and also offer a relatively low-cost way to take over substantial businesses.”
Paul Shiells, director with Colliers International, said: “There continues to be a lot of interest in portfolios of quality pub assets owned by Punch, which are capable of delivering strong wet and dry sales. Punch’s willingness to invest substantial sums in transformational improvements has boosted interest in the pubs.”