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S&NPE buys five Adnams pubs
Adnams, the Suffolk-based brewer and pub operator, has sold five of its freehold pubs to Scottish & Newcastle Pub Enterprises (S&NPE) in order to consolidate its estate.
A package of four pubs, which are part of a group of nine put on the market in November 2007, were sold for around £1.2m. They consist of two in Ipswich — The County Arms and The Grand Old Duke – The Plasterers in Norwich and The Two Brewers in Diss, Norfolk.
In a separate deal, S&NPE acquired a fifth site in Great Yarmouth. Christie + Co handled the sales.
Anthony Jenkins, associate director at Christie + Co, said: “Despite the challenging conditions the pub market is currently facing, the sale of these sites demonstrates that the level of demand for freeholds continues to be high.”
The remaining four pubs are still available and are located in Norwich, Knoddishall and two in Colchester.
Adnams currently operates an 80-strong pub estate, a wine distribution firm, two boutique hotels and the Cellar & Kitchen retail chain.
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