Roadside Real Estate disposes of Barkby Pubs subsidiary

Roadside retail real estate business Roadside Real Estate said on Tuesday that it has disposed of its Barkby Pub Co subsidiary as it continues to refocus the business.

Roadside Real Estate said Barkby Pubs, which had a net liability position of £400,000, was sold to PS91 Hospitality, a pub operator that acquired the leases for four sites previously operated by Roadside, for a nominal value of just £1.

The AIM-listed group highlighted that this was the final disposal required to be made of the pubs business by Roadside and concludes this element of the company's divestment programme.

Chairman Charles Dickson said: "We are pleased to have concluded the exit of our pub business and we continue to focus on the execution of our roadside real estate strategy."

As of 0925 BST, Roadside shares were up 5.02% at 23.21p.

Reporting by Iain Gilbert at Sharecast.com