Punch partnership hunts for tenants

Colliers International and Ryden team up to market 20 pubs

• Punch is seeking tenants for 20 Scottish pubs, including the Croftmalloch Inn in Whitburn.
• Punch is seeking tenants for 20 Scottish pubs, including the Croftmalloch Inn in Whitburn.

PROPERTY firms Colliers International and Ryden have joined forces in a bid to find tenants for 20 of Punch Taverns’ Scottish pubs.

The properties, which are said to be among the “core assets” of the pubco, span the length and breadth of the country, from Newburgh next to the Donald Trump International Golf Course in Aberdeenshire, to Eyemouth in Berwickshire; many of the outlets are said to be located in the central belt.

These pubs present fantastic opportunities and offer a relatively low cost option to take over a business.

Brian Davidson, regional operations director at Punch, said rent for the pubs ranges from £15,000 to £78,000 a year depending on the package agreed.
“We have instructed Ryden and Colliers International to assist our dealings with these core assets due to their reputation and standing in the Scottish commercial property market, their strong contact base and their expertise in the licensed and leisure sector,” he said.
Andy MacPherson, head of licensed and leisure at Ryden, said: “These Punch pubs present fantastic opportunities, with flexible leases and substantial investment, for entrepreneurs looking for strong assets for their business and also offer a relatively low cost opportunity to take over substantial businesses.”
Ryden and Colliers International have already brokered deals for pubs including the Abbotsinch in Grangemouth, Old Aberlady Inn in East Lothian, Ryries Bar at Haymarket in Edinburgh and the Moorings in South Queensferry.
Paul Shiells, director with Colliers International, said there continues to be “a lot of interest” in pubs owned by Punch Taverns.
“Punch’s willingness to invest substantial sums in transformational improvement schemes has boosted interest in the pubs and the levels of enquiries we are receiving,” he said.