Pub operator JD Wetherspoon has appointed CBRE to handle the disposal of 34 of its pubs.
The properties, which are being considered for sale either as a portfolio, in small packages or individually are located in strong town and city centre locations within England, Scotland and Wales. Of the 34 pubs, 27 are owned either freehold or held on a long lease at a nominal rent with the remaining 7 outlets held on leases with an average unexpired term of 18 years.
The units are generating total sales of in excess of £38 million (net of VAT), with an average weekly turnover per pub of more than £22,000 per week.
Substantial high volume businesses
Paul Breen, Senior Director in CBRE’s Specialist Markets team commented:
“The portfolio represents a rare opportunity to acquire substantial high volume businesses which have seen sales growth in each of the last five years. Food sales represent more than a third of total sales, having increased by 40% over this period, which makes the pubs ideally positioned to benefit from the continued growth in eating outside of the home. We anticipate strong interest from existing operators and new entrants keen to create a platform which can be used to build a successful managed estate.”
The 34 properties are in addition to the 20 units that were put onto the market by JD Wetherspoon earlier this year.
The properties
- Bedford – Banker’s Draft
- Blackpool – Auctioneer
- Chelmsford – Sir Thomas Mildmay
- Chester – Forest House
- Derby – Thomas Leaper
- Didsbury – Milson Rhodes
- Doncaster – Old Angel
- Dundee – Capitol
- Enfield – Picture Palace
- Glasgow – Society Room
- Gloucester – Water Poet
- Grangemouth – Earl of Zetland
- Hammersmith, London – Plough and Harrow
- Heanor – Red Lion
- Kingston Upon Hull – Zachariah Pearson
- King’s Lynn – Lattice House
- Lanark – Clydesdale Inn
- Liverpool – Lime Kiln
- Long Eaton – Twitchel Inn
- Mansfield – Courthouse
- Milton Keynes – Secklow Hundred
- Pontypool – John Capel Hanbury
- Portsmouth – Trafalgar
- Putney, London – Rocket
- Rotherham – Corn Law Rymer
- Sheffield – Swim Inn
- Stourbridge – Edward Rutland
- Stourport-on-Severn – Ye Old Crown Inn
- Stirling – 43-51 King Street
- Swindon – Groves Company Inn
- Trowbridge – Albany Palace
- West Kirby – Dee Hotel
- Wimslow – Bollin Fee
- Worthing – Sir Timothy Shelley