Marston’s creates new division to handle pub disposals

By John Harrington

- Last updated on GMT

Related tags: Chief financial officer, Operations director, Beer

Marstons has been disposing of pubs in recent months
Marstons has been disposing of pubs in recent months
Marston’s has created a new operating division to handle the disposal of circa 400 pubs that have been identified for sale.

The operating division is headed by Philip Barnett, who was operations director at Marston’s Beer & Pub Company until the end of last year. His new job title is operations director — disposals, reporting to chief financial officer Andrew Andrea.

It’s understood that Marston’s hopes to dispose of the pubs over several years. At its full-year results in November, the company said it anticipated that disposal proceeds would be around £30m to £40m per year for the next few years and the pubs up for disposal would be a mixture of traditional and franchised sites.

Marston’s said at the time: “We regularly review the traditional estate and the franchised estate to ensure that pubs that do not have a sustainable future are sold. The majority of these are likely to be sold for alternative use.”

In recent months a number of Marston’s disposal packages have been placed on the market, including a package of 50 sites with Christie+Co, 30 with Fleurets, and 16 with CBRE.

The company said last year it was on-track to build another 20 to 25 pubs in 2013, and it expects this investment to remain at a similar level over the next few years.

Related topics: Marston's

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