Board

Case Studies

RBS Galaxy estate

R&L Pubs

Christie + Co received significant interest in the R&L Properties pub estate it put to the market on behalf of the administrators in April 2011. By the end of the year, more than half of the pubs we originally put on the market were sold (like the Kings Arms in Whitchurch) or subject to agreed deals. Christie + Co’s work on this estate saw it awarded a further tranche to take to market by the administrators.

The acquisition of the Royal Bank of Scotland’s ‘Galaxy’ estate for a reported £412 million by Heineken UK company S&NPC represented the year’s major deal in the pub sector and the biggest deal for many a year. Christie + Co was delighted to have been able to advise RBS through the process which saw Heineken UK gain a major estate, including London’s famous Punch Bowl, and the existing tenants of the pubs have their futures secured.

Enterprise Inns

The Cow/Greene King

The acquisition of the award-winning Poole ‘gastropub’ The Cow, by Greene King in a sale negotiated by Christie + Co, emphasised the increasing demand for quality by the pub companies. Crowned National Freehouse and Pub of the Year in 2007, The Cow is housed in a Victorian building and has a reputation as a busy, vibrant and classical 'gastropub'- cum-bistro. The freehold was sold close to a guide price of £1.2 million.

In addition to the R&L Properties pub sales, Christie + Co sold well over 400 pubs during 2011 for the likes of Punch Taverns, Marston’s, Admiral Taverns and Enterprise Inns, whose Black Lion Hotel in Ceredigion was amongst the disposals negotiated by Christie + Co. Through 2011 we were able to report an increase in the number of sold pubs remaining as pubs.

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