Enterprise Inns, the leased and tenanted pub, group has announced the sale of 29 pub properties to Max Property Group for just under £42.6m. The pub company will lease the sites back under 35-year lease agreements. The sale represents a healthy profit against the book value of the pubs – they were valued at just under £34m in September 2010. Enterprise has agreed to annual upward-only rent increases for the first five years in line with RPI, subject to a minimum of 3% and a maximum of 4%, and five-yearly increases thereafter. The rent roll of the pubs is £2.975m. CBRE acted for Enterprise Inns.