Enterprise Inns, which is currently selling of a number of “exceptional” sites, has sold the Hill pub and club in London’s Muswell Hill to a joint venture between SAS Investments and Clovelly House for £4.5m. The c10,000sq ft site is to be redeveloped for either residential or care home use. AG&G acted for the seller. At the start of the year, Enterprise said it wanted to sell a number of “exceptional” properties that can realise substantial cash proceeds above book value. Chief executive Ted Tuppen said he expected to generate 13 or 14x EBITDA per site, earning the company about £150m to £200m a year for the next couple of years. It would “probably” involve 200 to 300 pubs, he added. Around the same time, Enterprise sold 15 pubs to Fuller’s for £22.9m and Tuppen said: “We have found there are a number of pub operators out there rather reluctantly waiting to see how trade is developing, but now have the confidence to buy pubs at the price we are selling.” So far the group has sold 82 “exceptional” properties for £98m at a “significant premium to book value”. Total proceeds from disposals in the 44 weeks were £148m and the company expects full-year proceeds to be c£200m, with a further £150m expected next year.