diff --git a/wagtail/wagtailcore/templatetags/pageurl.py b/wagtail/wagtailcore/templatetags/pageurl.py
index fb7688716..d3488d9b4 100644
--- a/wagtail/wagtailcore/templatetags/pageurl.py
+++ b/wagtail/wagtailcore/templatetags/pageurl.py
@@ -21,4 +21,4 @@ def slugurl(context, slug):
     if page:
         return page.relative_url(context['request'].site)
     else:
-        return '#'
+        return None