Penn Street Taverns, the Birmingham-based company, has placed its 22-strong pub estate on the market, as the owners look to concentrate on other business opportunities, M&C Report has learnt.
The majority of the sites, which are spread across the West Midlands, Shropshire, Worcestershire, Staffordshire, Warwickshire and Herefordshire, are freehold and range in price from £85,000 to £450,000.
The total value of the 22-strong package is just over £4.31m, giving each site an average value of just under £196,000.
Property advisor Christie + Co has been instructed by Penn Street Taverns to market the pubs, which are available individually, as a sub group or group. It is understood that the majority are being sold with the benefit of vacant possession.
The package includes the 17-bedroom Star Inn Hotel in Worcestershire; the 12-bedroom Royal Oak Inn in Ledbury and the 13-bedroom O’Reilly’s Bar, which is located near Aston Villa’s football ground.
