Punch places portfolio on the market

By M&C Report

- Last updated on GMT

The pub company maintains that MRO is unlawful
The pub company maintains that MRO is unlawful

Related tags Investment

Punch Taverns has placed a 160-strong portfolio of pubs on the market, valued at £50m according to M&C Report.

It is thought that the company has appointed advisors to oversee the sale of the sites, which are spread across the UK.

M&C Report​ understands that first round bids for the package were due in Monday of this week, with trade buyers and private equity showing an interest.

Last month, Punch said that its disposal programme was ahead of target at £57m and had been revised up to £80m for the full year.

The company reiterated its belief that the inclusion of the market rent only option in the pubs code is unlawful. It said it was taking steps to mitigate the impact pf the regulatory changes, including a review of new managed and franchised operating format-trials: new agreements including commercial free-of-tie leases and deferral of some capital investment projects. 

Related topics Punch Pubs & Co

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