New portfolio of Tchenguiz pubs up for sale

A new tranche of pubs that were formerly part of the pub estate of property tycoon, Robert Tchenguiz, have been put on the market.

The 37 pubs are mostly located in the south and west of England - with just three of them in Scotland - and are being marketed by agents from Christie & Co. The style and locations of the pubs in the sale range from city centre bars to community locals to destination inns and just two of them are leasehold premises.

The former R&L Properties No. 6 pubs were put on the market by PricewaterhouseCoopers, whose administrators have been running the businesses since they were placed into administration last month.

The head of pubs at Christie & Co, Neil Morgan, said that the portfolio of businesses was being marketed in a range of fluid lots, as chains or as individual businesses.

"This instruction from the administrator includes many high-quality outlets, benefiting from their almost exclusively freehold tenures," he explained.

"Our recent experience tells us that these pubs will be of significant interest to PubCo investors and to tenant landlords looking to make the transition to owning their freehold."

He added that they were extremely confident that there would be significant interest in the pubs. Some 126 pubs from the Tchenguiz portfolio have already been put up for sale, including the pubs from R&L Properties No. 1, No. 2 and No. 5.