Spirit Pub Company is close to completing the sale of the freehold of its Prince of Wales pub in London’s Fulham, near Earls Court to property company Capital & Counties Properties PLC (Capco), in a deal valued at c£15m, M&C Report understands.

It is thought that Spirit will continue to the run the pub, which is currently operated under its Taylor Walker format, for an agreed period.

Earlier this year, the Mike Tye-led group completed the disposal of a freehold pub, the Black Lion, on Bayswater Road in central London, to 123 Bayswater Road Limited, for £27m.

In this case the company, which is currently the subject of a takeover approach by Greene King, said it intended to reinvest the proceeds of the sale in its retained business.