Pubfolio has put 27 dormant freehold pubs up for sale or conversion to alternative use in a bid to maximise the performance of its current portfolio of 545 sites.

The 27 pubs are all currently sites that have ceased trading and Pubfolio is looking to use them as ‘gold bricks’ – properties once used as pubs that could be used for residential or commercial use – or find new licensees.

Property agents Christie & Co are acting on behalf of Pubfolio, which is run by Country Estate Management.

Christie’s director Neil Morgan, said: “Pubfolio has taken the decision to rationalise these sites in order to focus on expanding other areas of its public house portfolio.

“In view of the fact that this instruction offers a rare opportunity to acquire freehold public houses, we expect strong demand from both the licensed and non-licensed sector.”

It was reported in May that Pubfolio had appointed bankers Rothschild to market the business for approximately £150m.

Pubfolio was created in January 2005 with the purchase of 545 pubs from Punch Taverns.

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By Christopher Walton

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