80 pubs sold from former Robert Tchenguiz pub estate

A total of 80 pubs from Robert Tchenguiz's pub estate comprising R&L Properties No 1, R&L Properties No 2 and R&L Properties No 5, all of which were in administration, have now been sold.

Property agent Christie + Co handled the sales on behalf of administrators Deloitte.

Ian Wormleighton, director in Deloitte's restructuring services team, said: "The joint administrators are pleased to have realised excellent value for 80 properties within the estate and continue to pursue strategies to maximise recoveries for creditors from the remaining portfolio."

Simon Chaplin, director of Christie + Co, said: "Around a quarter of the original estate of just over 200 pubs is currently off-market as revised trading terms are agreed with existing tenants, new tenants are sought and installed and sites are developed for alternative use."

"In the meantime, Christie + Co continues to sell the remaining estate throughout England, Scotland and Wales. These sites are being sold with vacant possession or investment opportunities, for continued pub operation or for alternative use."

By Neil Gerrard

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