Former Bass managers to take on Voyager leases

Related tags Alcoholic beverage

Managers of nearly 1,000 former Bass pubs are to see their pubs transferred to lease or sold over the next two years.Voyager Pub Group has launched a...

Managers of nearly 1,000 former Bass pubs are to see their pubs transferred to lease or sold over the next two years.

Voyager Pub Group has launched a two-year programme to convert about 850 of the 988 managed houses that were bought from Bass in February.

Chief executive John Denning said: "We are currently talking to and agreeing terms with existing licensees where they have the expertise and are interested in taking the lease."

Although he could not predict how many managers would need to find new jobs or be made redundant, he expects a "significant proportion" to stay with the company.

Over 100 pubs will remain as managed and are likely to be sold.

Mr Denning said Voyager was working hard to keep managers and staff informed of developments and would help staff to find new jobs if they had to leave their pubs.

Under the transfer of undertakings (protection of employment) regulations, employees of Bass retain all their employment rights now they are employed by Voyager.

Voyager's lease is from 10 to 30 years, with rent linked to the retail price index and reviewed every five years. It is tied on beer, cider and flavoured alcoholic beverages but free for wine, spirits and soft drinks.

Where managers do not take on the lease, the pubs will be marketed. They are expected particularly to attract small multiple operators who prefer the long-term flexible leases.

Voyager is the latest company formed by Nomura Principal Finance Group, which owns Unique Pub Company and Inn Partnership.

The company's estate, which is scattered across the UK, ranges from suburban high street locals to high-volume community pubs.

Mr Denning said: "These are high quality, well maintained, professionally operated pubs coming to the lease market with very credible trading history."

The pubs have added brands from Scottish Courage and several regional brewers to its portfolio along with the existing Bass Brewers range. Lessees will be given a national price list, representing discounts to the brewers' published national wholesale price list.

Mr Denning explained that Voyager was given its name because "this is the beginning of a journey". He said: "We are at the forefront of change, and the name seemed to be appropriate to that position."

With many of the top management transferring from Bass Leisure Retail, Voyager has moved to new headquarters in the former Bass offices in Portland Road, Birmingham.

Related stories:

ScotCo and Bass to supply new Voyager Pub Group (May 3, 2001)

Related topics Other operators

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