Greene King PLC Sells 65 Wet-Led Pubs Under Project Portico

Greene King PLC is putting approximately 65 predominantly wet-led pubs across the United Kingdom up for sale as part of a broader property estate strategy. The initiative, internally titled Project Portico, targets venues that focus primarily on drink sales over food. Prospective buyers may purchase these sites individually, in smaller groups, or as a complete portfolio.

This move follows a restructuring plan announced in March to combat soaring costs and difficult trading conditions. Under the wider strategy, the company is evaluating up to 150 managed sites for sale and transitioning another 300 pubs to leased, tenanted, or franchised models via the Pub Partners scheme. The company intends to reinvest the capital raised from these sales into its remaining core estate.

Greene King PLC has not yet specified which individual pubs are included in the current 65-site package, though it noted that these sales do not necessarily result in closures.