Regent Inns to sell further six properties

By Becky Paskin

- Last updated on GMT

Related tags: Renting, Lease, Real estate

Regent Inns to sell further six properties
The pub company puts another six properties on the market, following the seven advertised earlier this year

Regent Inns​ have added to the seven Walkabout sites put up for lease earlier this year by putting six more sites onto the UK market.

The pub operator has put asking prices for the leasehold interest of the sites in Shaftesbury Avenue, Putney, Newport, Grimsby, the Walkabout/ Jongleurs in Edinburgh and also the Risa/ Jongleurs in Cardiff at between nil premium to £250k. All leases date from 1998 onwards for a minimum of 25 years, with the Putney site running to 2040.

Anthony Jenkins, Associate Director at Christie and Co​ who are looking after the sales, said: “Regent Inns is currently carrying out a review of its property portfolio and is looking to dispose of a number of non-core sites. These six high-turnover opportunities, which are part of this process, offer interested parties the chance to operate established properties in prime city and town centre locations.”

Currently operating around 50 Walkabout bars as well as over 90 outlets of the Jongleurs, Risa and Old Orleans brands across the UK, Regent Inns opted for a sale and leaseback strategy of its non-core sites after disappointing figures at the end of 2007 pointed towards the sale of the company earlier this year.

The other seven Walkabout bars put on the market in March this year were Barnsley, Blackpool, Derby, Exeter, Newquay, Shepherds Bush and Wigan.

Related topics: Business & Legislation



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