Punch Taverns, the operator of 9,000 leased and managed pubs, has announced it has transferred its 100th Spirit Group pub to lease as part of a conversion programme it started in March this year. Phil Peglar, operations director of Punch, announced that The Silver Jubilee in Canvey Island, Essex, had become the company’s 100th transfer, with its lease being taken on by the current landlord. The pub was included in the first package of 211 pubs out of around 750 sites Punch is transferring from managed to leased, as it looks to operate a streamlined managed house division. According to Pegler, the company has completed negotiations on 207 pubs, including the 100, which have already been transferred, since the process started. The first package of 211 pubs was launched onto the market in March, with a further raft of 247 pubs placed on the market through a number of roadshows at the end of June. A third and final package of 267 pubs will be brought to market at the end of this month, as the company looks to complete the entire transfer process by August next year. When Punch acquired Spirit Group in December 2005 for £2.7bn it announced a plan for up to 750 managed houses to be transferred. Christie & Co, the letting agents, is handling the marketing process on Punch’s behalf.