Enterprise Inns offloads Scottish estate

21/11/2006 - 08:02:41
British holiday accommodation group Enterprise Inns said today it had sold its entire estate in Scotland after agreeing a deal with property tycoon Robert Tchenguiz.

The 137 pubs fetched £115m (€170.2m) for Enterprise, which said it lacked critical mass in a region with “many different characteristics” to the market in England and Wales.

The deal with Mr Tchenguiz’s vehicle Retail & Licensed Properties came as Enterprise announced a rise of 8.6% in full-year profits to £315m (€466m).