Mitchells & Butlers is to outline its interest in adopting the tax-efficient structure used by many property companies when it appoints up to two representatives of real estate entrepreneur Robert Tchenguiz to its board on Tuesday.

Conversion to real estate investment trust (Reit) status, which would allow the operating part of the pub chain to be separated from its property, would come after rival Enterprise Inns was given the go-ahead by the government to do so in a landmark decision this month.