This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
News
Enterprise Inns to auction more pubs
Enterprise Inns is looking to ease its £1 billion debt with the auction of eight London pubs.
The company hopes to raise £12.6 million through the auction, which is set to take place on 10 March and was organised through commercial property agents Cushman & Wakefield.
The pubs in question will then be rented back to Enterprise Inns on a 35-year lease.
Last week the pub chain raised roughly £10m when it sold and leased back seven pubs through auctioneers Allsop.
Enterprise began auctioning off its pubs in late 2009 in a bid to raise money to help pay off some of the group’s extensive debts.
Enterprise is thought to have raised £35m to £40m with such sales so far and Ted Tuppen, the pubco’s chief executive believes that up to 200 pubs could be sold in such a way and still allow them to afford the rent bill.
The latest pubs to be auctioned are:
The Princess of Shoreditch, Old Street
Molly Moggs, Old Compton Street
So-Bar, Fulham Road
Ealing Park Tavern, South Ealing Road
The Sun, Drury Lane
The Hope, Bloomsbury
The Three Kings, Clerkenwell Close
Halfway House, Barnes
Rupert Millar, 23.02.2010