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Pubcos

JDW to sell a further five pubs

By James Evison , 30-Sep-2016
Last updated on 30-Sep-2016 at 15:48 GMT2016-09-30T15:48:46Z

Pubs sale: JDW founder Tim Martin
Pubs sale: JDW founder Tim Martin

JD Wetherspoon has appointed property agents CBRE and Savills to sell a further five of its pubs. 

The move means the large managed pub operator now has 26 pubs on the market for purchase with a mix of 11 freehold/long-leasehold deals and 15 free-of-tie leases.

The pubco said the pubs could be bought either as individual sites, in small packages or even as a large portfolio.

Sales

It follows the announcement in May that the pubco planned to sell a further 33 sites .

Recently, sites have been sold to Stonegate, Amber Taverns, Brewhouse & Kitchen, Intertain, Urban Pubs & Bars and the Draft House chains.

In March this year, the 350-strong pub operator Hawthorn Leisure bought a bulk portfolio of 11 pubs from Wetherspoon as part of plans to build a collection of fully managed sites for the operator.

A spokesperson on behalf of the joint agents said: “We are delighted with the success of the earlier campaign, and the addition of five new pubs will continue to attract interest from a large variety of sources. The mix of freehold and leasehold properties gives the portfolio a broad appeal making them suitable for a wide range of investors.

“In addition, the high level of the of JD Wetherspoon’s initial capital expenditure has already been recognised with one recent buyer commenting that it allowed them to fit out for a fraction of the usual costs and time helping them to refocus the operational style of these properties and be up and trading very swiftly.”

The list

A full list of properties is available at the JD Wetherspoon's disposals website .

The properties are as follows (new to the market have been marked with an asterisk):

  • Airdrie – Robert Hamilton*
  • Bathgate – James Young
  • Boscombe – Sir Percy Florence Shelley
  • Bradford – Sir Titus Salt
  • Cardiff – Central Bar*
  • Dagenham – Lord Denman
  • Dartford – Paper Moon
  • Ellesmere Port – Thomas Telford
  • Forest Hill – Capitol
  • Hammersmith – Plough & Harrow
  • Ipswich – Robert Ransome*
  • Leamington Spa – Jug & Jester*
  • Lincoln – Forum 
  • Luton – London Hatter
  • Mansfield – Stag & Pheasant
  • Milton Keynes – David Garrick
  • Mitcham – White Lion of Mortimer
  • Newbury – Diamond Tap
  • Newcastle-upon-Tyne – Union Rooms
  • Newport, Wales – Tom Toya Lewis
  • Nuneaton – William White
  • Stirling – Proposed Pub & Hotel Site
  • Walsall – Imperial
  • Watford – Colombia Press*
  • West Kirby – Dee Hotel
  • Worthing – Sir Timothy Shelley

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