Stonegate Group, the UK's largest pub company, has placed 22 pubs across England on the market. The properties are being marketed by estate agent Savills as part of a routine portfolio review, according to a company spokesperson.
The pubs are all let on long leases with annual Retail Price Index-linked rent reviews. The move comes amid reports that Stonegate is exploring the sale of over 1,000 of its 'platinum' pubs, which could be worth up to £1 billion. The company operates 4,300 venues and has debts exceeding £3 billion.
Stonegate accumulated much of its debt through the 2019 acquisition of Ei Group, just months before the COVID-19 pandemic forced pub closures. The company attempted a similar sale in 2023 but was unsuccessful, later refinancing 1,000 venues with a £638 million loan from private equity firm Apollo.
A Stonegate spokesperson stated: 'We are looking at options for the Platinum portfolio, of circa 1,000 Leased and Tenanted pubs, which could include a refinancing, partial sale, or full sale of the Platinum sites but as we explained to our bondholders, no decisions have been made.'
Stuart Stares, Director at Savills licensed leisure, commented: 'Pubs remain one of the most resilient and appealing investment classes in today’s market, underpinned by strong fundamentals such as long-term leases, index-linked rent reviews and strong underlying property value.'
