Enterprise Inns is hoping to raise around £15m by placing ten London pubs in an Allsops auction on 17 May, writes Paul Charity. This will the largest number of pubs placed by the company in a single auction so far. The tenanted operator is offering to sell the freeholds subject to a 35-year lease. As usual, the company has a break clause at 25 years with the lease not having RPI rent increases although subject to a five-year rent review. The entire rent roll on the ten pubs is £895,000, suggesting the sale will raise up to £15m if the pub sell with a rental yield of around 6.4% in line with previous auctions. The pubs at the Allsop auction are: *Belushi’s in Camden Town (which has a current rent of £95,000 per annum); *The Commander, Bayswater (which has a rent of £105,000 per annum); *A Bar 2 Far, Tooting (which has a rent of £85,000 per annum); *The One Tun, Hatton Garden (which has a rent of £85,000 per annum); *The Rosslyn Arms, Hampstead (which has a rent of £90,000 per annum); *The Nell of Old Dury, Covent Garden (which has a rent of £100,000 per annum); *The Grafton Arms, Kentish Town (which has a rent of £85,000 per annum); *The Blind Beggar, Whitechapel (which has a rent of £95,000 per annum); *The Old Ship, Hackney (which has a rent of £85,000 per annum) and the Town of Ramsgate (which has a rent of £70,000 per annum). Enterprise has sold a total of 36 London pubs at public auctions so far, raising £63.4m in the process. However, Ted Tuppen, the groups’ chief executive, has argued that the company is not selling the pubs in the usual sense because it retains an operational interest in them - it retains around 10-15% of the profit generated by each pub.