Leaseholds of 10 pubs run by Orchid Pub Company have been placed on the market with Fleurets, M&C Report has learnt.
The sites, mostly located in southern England, are being marketed for sums ranging from nil premium for a pub in Midgley, Wakefield, to £100,000 for a venue in Broxbourne, Hertfordshire.
Four of the 10 sites are located in Hertfordshire, with two in Essex and one each in Bedfordhire, Warwickshire, Cambridgeshire, Hampshire and West Yorkshire.
It’s understood that Orchid, which is led by Rufus Hall, is looking to exit some leasehold sites as its backer Deutsche Bank gears up for a possible flotation of the c240-strong business.
M&C reported earlier this month that Deutsche Bank is understood to be conducting a beauty parade of potential advisers as it leaning towards a listing of the business, after receiving a number of approaches from would-be advisers to an IPO, and given the current succession of companies heading for the public markets.
M&C recently reported that Fleurets is marketing a separate package of 10 pubs owned by private equity group GI Partners and managed by Orchid. The pubs are part of GI’s Black Pubs Limited vehicle and consist of eight leaseholds, including one long leasehold, and two freeholds. A number of the sites operate under the Bar Room Bar concept.