Punch puts another 300 pubs on the market from its turnaround division
Punch Taverns has put a further 300 properties from its ‘troubled pubs' division on to the market.
Over 90% of the sites are vacant freehold pubs located around the UK, with values of up to £500,000 each.
Punch 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."
It also follows news last week that Punch has repurchased more than a third of one of its convertible bonds now valued at £100m in order to cut its overall £5bn debt.
Neil Morgan, head of pubs at property agent Christie + Co, 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."
Punch places further 11 East Anglia-based pubs on market >>
Punch cancels more than 33% of convertible bonds to cut debt >>
Punch Pub sheds a further 17 freehold pubs >>
Punch puts 1,250 weakest pubs in turnaround division >>
By Emma White
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