Hospitality giant Whitbread has set a June-end deadline for first round bids on a portfolio of 235 Brewers Fayre and Beefeater pubs.

The group of pubs are expected to fetch more than £500m, although potential bidders have declined to comment.

The sale follows an announcement in the company’s preliminary results on 25 April confirming the future sale of underperforming solus pubs: “It is clear that the pub restaurant sites joined to a Premier Travel Inn provide complementary strengths and deliver industry-leading returns. Accordingly, around 100 additional Premier Travel Inns could be built, thus converting solus pub restaurants into joint sites.

“We plan to sell the balance of the freestanding pub restaurants.”

In line with the recent announcement, Whitbread is set to build a 60-bedroom Premier Travel Inn on a site – purchased from Stadium Developments – adjacent to the Royal Quays Designer Outlet Centre in South Shields near Newcastle. Details: www.whitbread.co.uk