Marston's puts 61 pubs up for sale
Marston's is the latest pub company to put a number of sites up for sale following a review of its estate.
The group, which operates over 1,400 pubs across the UK, has put 61 of its "non-core" venues on the market.
The sites are a mix of leased, tenanted, retail and managed pubs and are being marketed by Christie & Co under the name ‘Project Aramis'.
They are available to purchase individually, in small groups or as a whole package.
Rival pub chains have also looked to offload sites over the last few months. Stonegate, the UK's biggest pub company, reportedly put around 1,000 venues on the market in January for a reported £800m.
JD Wetherspoon had looked to sell around 45 pubs at the end of last year. The group's chairman Tim Martin warned pubs faced a challenge to attract back customers who had become used to buying cheaper supermarket beer during lockdown.
Judith Rafique, head of estates at Marston's, said the move would allow the pub group to focus on its "strategic objectives" and "maximise returns" across its core sites.
In a trading update in January, Marston's said sales had risen 12.9% across the festive period compared to 2022 and that it was aiming to reach £1bn in sales and reduce its debt below £1bn.
Noel Moffitt, senior director – corporate pubs and restaurants at Christie & Co, said: "The pub sector has been very resilient over the last few years and has adapted well to the challenges and despite interest in the sector there is a lack of properties on the market.
"This [Marston's] portfolio offers new entrants and existing operators a wonderful opportunity to acquire investments or operate their own businesses."