JD Wetherspoon puts new group of pubs up for sale

JD Wetherspoon has put a further 11 of its pubs across England and Wales up for sale.

 

The pub chain, which operates 822 sites nationwide, said the pubs would all remain open while on the market.

 

Savills and CBRE have been appointed to oversee a sale of the sites, which are in town and city centre locations.

 

The pubs are a mix of 10 freehold and one leasehold unit and are available to purchase individually, in small packages, or as a portfolio.

 

In July, Wetherspoon said it had sold or closed 28 pubs during the last financial year. Of the 34 pubs the chain has listed with Savills and CBRE, 15 are under offer.

 

“The pubs are all in long established and proven trading locations making them ideal for both existing pub operators and new entrants,” said Toby Hall, senior director at CBRE.

 

In July, Wetherspoon chairman Tim Martin said it was a "misinterpretation" to describe the chain’s pub closures as a "money raising exercise" and said in most cases there was another Wetherspoon pub close to the property being sold.

 

Wetherspoon said it continued to invest in the business and recently reopened the Square Peg in Birmingham and the Lord Palmerston in Southsea, after major refurbishment, at a cost of around £1.5m.

 

Pubs in Wakefield, central Cardiff and central Glasgow are also underdoing redevelopment at a cost of around £8m, the company said.

 

Wetherspoon said it had plans to open new pubs and hotels and continue to upgrade existing pubs as part of a total investment of around £100m.

 

**The 11 properties up for sale are as follows: **

 

Abertillery – The Pontlottyn

 

Cardiff – The Ivor Davies

 

Chesterfield – Spa Lane Vaults

 

Doncaster – The Gate House

 

Holywell – The Market Cross

 

Kirkby in Ashfield – The Regent

 

Moreton – The Mockbeggar Hall

 

St Ives – The Hain Line

 

Shipley – The Sir Norman Rae

 

Swindon – The Sir Daniel Arms

 

Todmorden – The White Hart

 

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