Statutory Code: Greene King would sell pubs to get below 500 threshold

By Michelle Perrett

- Last updated on GMT

Related tags: Greene king, Bury st edmunds

Greene King would sell pubs
Greene King would sell pubs
Greene King said it would reduce the number of tied pubs within its estate to become exempt from the proposed statutory pubco code.

In its submission to the Government consultation, the company said it would look to bring its estate down to under 500 leased and tenanted pubs to avoid the proposed regulation.

It said: “We would achieve this through accelerated disposals and accelerated transfers from tenanted or leased pubs to managed pubs.”

Greene King said it would assume that it would not be the only pubco taking this strategy which would see the market “flooded” with pubs for sale and the value drop. 

It added: “It is worth noting that around 50% of all pubs sold are sold into alternative, thereby accelerating pub closures unnecessarily.”

Greene King suggested to the Government that a “preferable alternative” would be for a statutory code to include only fully repairing and assignable leases

Related topics: Legislation, Greene King

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