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Acorn.finance — Commercial & Business Debt Brokerage0207 959 3882

Corporate pub disposals

Buying a Pubco Disposal? A 36-Month Finance Route for Experienced Operators

Written by Paul Thompson, head of the Commercial Finance Team | Last reviewed: October 2026

36 monthsTime to build your own trading record

65–70%LTV · Purchase price or valuation, whichever is lower

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Lead Summary

Acorn.finance arranges 36-month bridge-to-term finance for experienced operators buying a pub in a pubco disposal. Funding is available at up to 70% of the purchase price or valuation, whichever is lower. It gives you time to take over the site and build your own two-year trading record before refinancing onto a standard commercial mortgage. It is not available to first-time buyers or to applicants without substantial liquid capital.

Why Pubco Disposals Are Coming to Market

Pub companies are actively reshaping their estates. Major pubcos like Greene King and Stonegate have set out plans to convert or dispose of hundreds of managed pubs as part of estate evolution and deleveraging strategies.

These pubs are not necessarily weak businesses. Many are wet-led sites that no longer fit a pubco's managed-house model or estate strategy. In the hands of an experienced independent operator, a disposal can become a successful free house.

The challenge is finance.

A new owner takes on a pub that has traded as part of a large estate. Many lenders want to see your own trading record under your ownership. Accounts for managed houses like these are rarely available, because they are consolidated with the rest of the company. We may be able to see turnover or barrelage, but the costs and expenses of a managed pub are very different from those of a free-trade operation, so the historic figures are a poor guide to how the pub will perform in your hands. That leaves a gap between completion and a standard commercial mortgage.

The Solution: A 36-Month Bridge-to-Term Facility

We arrange dedicated funding for the acquisition of pubs from pubco disposals.

It offers up to 36 months of finance at 65% to 70% of the purchase price or valuation, whichever is lower.

Why 36 months? Because it matches the real timeline of taking over a disposal and building a trading record:

  1. 01

    Months 1 to 12

    Complete the disposal, take over operations and put your own strategy into practice with your team.

  2. 02

    Months 13 to 24

    Continue to build the trade and keep clear, accurate records so your accounts show your progress.

  3. 03

    Months 25 to 36 (The Exit)

    Once your year-two accounts are ready, the aim is to refinance onto a long-term commercial mortgage based on your trading and EBITDA. Exit terms depend on trading performance and lender criteria.

Market snapshot: pubco disposals in 2026

Reported pubco disposal activity, with sources. Last checked October 2026.

  • Greene King announced plans to convert 150 managed pubs to its leased and tenanted estate and to evaluate a further 150 for potential sale. A small number of sites, under 2% of its managed estate, were identified for closure.

    Source: Morning Advertiser, 18 March 2026

  • Greene King reportedly appointed Savills to sell 13 pubs and hotels from its Venture Hotels arm, with around 420 rooms between them.

    Source: Morning Advertiser, 27 April 2026

  • Stonegate's chief executive said continued disposals, made site by site, remain central to the group's estate evolution and deleveraging.

    Source: Morning Advertiser, 22 June 2026

  • Greene King confirmed it is reviewing around 65 pubs for potential sale, individually or in groups.

    Source: Morning Advertiser, 11 August 2026

  • The same disposal was reported as 'Project Portico': predominantly wet-led pubs, which buyers may be able to acquire as a whole portfolio, a cluster or individual sites.

    Source: CLH News, 12 August 2026

Funding pubs since 1997, in the trade press since 2008

We started out in 1997 as Acorn Commercial Finance, a broker that predominantly funded pubs. That experience gave us the confidence to take what became Pub90 (then 100% funding) to the board of Abbey Commercial Mortgages and secure an exclusive deal. In those days we did not think we were large enough to seek trade press coverage for schemes like this, so the coverage below came later. You may also know us as Publoans or Acorn4.

  1. | Morning Advertiser

    "Finance broker sets up new facility to lend against closed pubs"

    Acorn Commercial Finance (now Acorn.finance) launched a Pub Reopening Facility for closed pubs, including repossessions and pubco disposals. A bridging lender funded the freehold purchase, with Acorn helping the licensee refinance onto a long-term mortgage after about six months. Criteria included a strong licensed-trade record, an acceptable credit history, a business plan and a deposit of around 40%.

    Read the article: Finance broker sets up new facility to lend against closed pubs (Morning Advertiser, 12 October 2012)

Market conditions then were very different from today. These articles evidence our experience and are not indicative of current terms.

Who This Funding Is For

Taking on a pubco disposal is a serious commitment. This facility is designed for experienced operators, not for those new to the trade.

Do not apply if:

  • You are a first-time buyer, or are looking for a change of career or lifestyle.
  • You cannot show substantial, provable working capital. You will need cash for the 30% to 35% deposit, SDLT (or equivalent), legal fees, opening stock and early cashflow.
  • You are relying on the pub's previous trading accounts alone to justify the loan.

We only want to hear from you if:

  • You have a proven track record of owning, running or managing licensed premises.
  • You have the liquid working capital to complete the deal and fund the early months of trading.
  • You have the supplier relationships and operational experience to run the site successfully under your ownership.

Looking for Something Different?

For Sitting Tenants

Already running the pub as a tenant? Buy your freehold with Pub90.

Pub90 is our freehold buyout programme for sitting tenants. Funding is based on the 'married value' of your lease and freehold, with up to 90% of the agreed price available, or up to 100% with additional security.

  • Underwritten on your trading record
  • Deposits from as little as 10%
  • Move to a free-of-tie freehold
Explore Pub90

Already the tenant? See how Pub90 helps sitting tenants buy their freehold.

What Our Underwriters Need to See

If you have the experience and the capital, here is what we need to structure the deal:

  1. 1.The Pub

    Name, location, whether it is currently trading, and who is selling (pubco disposal, independent owner, or administration sale).

  2. 2.Your CV

    A clear summary of your experience in the licensed trade.

  3. 3.The Numbers

    Agreed or target purchase price, plus proof of your available deposit and working capital.

  4. 4.The Plan

    A realistic 12-month business plan and cashflow forecast showing how you intend to operate the site.

Frequently Asked Questions

The sale of a pub, or a group of pubs, by a pub company such as Greene King or Stonegate that no longer fits its estate strategy. Sites may be sold individually, in clusters or as a portfolio.

No. Many disposals are trading pubs, although some sites are closed. This facility suits both, provided you have the experience and capital.

Typically 30% to 35% of the purchase price or valuation (whichever is lower), plus SDLT or equivalent, legal fees, opening stock and working capital.

The aim is to refinance onto a standard commercial mortgage using your trading record, subject to performance and lender criteria.

Our Pub90 programme is built for sitting tenants buying their freehold. See the Pub90 page.

Yes. We began in 1997 as Acorn Commercial Finance, predominantly funding pubs, and took what became Pub90 to Abbey Commercial Mortgages for an exclusive deal when it was 100% funding. We did not seek press coverage in those early days, but the trade press has reported our work on pubco freehold sales since 2008 and on finance for closed pubs in 2012. See our track record above.

Pub Disposal Assessment

Please complete all fields. This facility is strictly for experienced operators buying a pub disposal. Looking for other options? See our licensed trade finance options or Explore Pub90.

Already the tenant? Pub90 may suit you better.

Is the pub currently trading? *
Do you currently own other licensed premises? *

If you need to discuss a site before submitting, call the Commercial Desk on 0207 959 3882.

0207 959 3882