Last checked at 25 Sep 2009 07:00
25th September 2009
Christie + Co markets c.300 pubs for Punch Taverns
Christie + Co, the professional services division of Christie Group Plc, has been instructed by Punch Taverns, the UK's largest pub company, to market more than 300 individual pubs from its turnaround division.
The pubs, some of which have previously been on the market, are spread throughout the UK and range in price from nil premium leases to £500,000. Over 90% of the sites are freehold and most are available with vacant possession.
Punch Taverns said: "Some of these sites have already been on the market but they are being relaunched through Christie + Co, many at revised prices, to stimulate interest and secure buyers."
Neil Morgan, Christie + Co's Head of Pubs, said: "We expect the majority of these pubs to continue to be operated as licensed premises, although a significant number will provide ideal alternative-use opportunities across the residential, commercial and retail sectors."
This instruction follows previous campaigns undertaken by Christie + Co for Punch, including the letting in 2006/7 of a third of the company's managed house division Spirit Group - the best quality houses ever offered on lease in the UK. Christie + Co successfully undertook the conversion from managed to lease of circa 630 pubs over an 18 month period.
In late 2008, Punch Taverns instructed Christie + Co to offer 50 of its managed houses either as freehold or lease opportunities. Christie + Co successfully completed the marketing of the majority of this package earlier this year.
Enquiries:
David Rugg 020 7227 0707
Chief Executive
Christie Group plc
Philip Davies 020 7149 6000
Charles Stanley Securities
Tom Cooper 0797 122 1972
Winningtons
Notes to Editors:
Christie Group plc (CTG.L), quoted on AIM, is a leading professional business services group with 37 offices across the UK, Europe and Canada, catering to its specialist markets in the Leisure, Retail and Care sectors.
Christie Group operates in two complementary business divisions: Professional Business Services (PBS) and Stock & Inventory Systems & Services (SISS). These divisions trade under the brand names: PBS - Christie + Co and Pinders: SISS - Orridge, Venners and Vennersys.
Tracing its origins back to 1846, the Group has a long established reputation for offering essential services to client companies in agency, valuation services, investment, consultancy, project management, multi-functional trading systems and online ticketing services, stock audit and inventory management. The diversity of these services provides a natural balance to the Group's core agency business.
For more information, please go to www.christiegroup.com