Greene King has been forced to shelve plans to sell off its property estate because of problems in the debt market.

The brewer of Old Speckled Hen and Abbot Ale had intended to unlock value from its property by selling off 872 pubs into a separate company.

Greene King said it expected to meet the City's expectations after warnings on Monday from Clapham House restaurants and Regent Inns pubs that consumer spending was slowing.