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CBRE to dispose of 34 Wetherspoon pubs

CBRE To Dispose Of 34 Wetherspoon Pubs

Wetherspoon is offloading 34 pubs, including five in Scotland, as part of a review of its property portfolio.

Consultancy CBRE has been appointed to handle the disposal of the pubs which are for sale together, in small packages or individually.

The are located in town and city centres across the UK. They include 27 which are owned either freehold or held on a long lease at a nominal rent. The remaining seven are held on leases with an average unexpired term of 18 years.

The units are generating total sales of more than 38 million, with an average weekly turnover per pub of more than 22,000 per week.

These properties are in addition to the 20 that were put on the market by JD Wetherspoon earlier this year.

Euan McGonigle, associate director in CBRE s retail Scotland team, is handling the Scottish disposals.

He said: The JD Wetherspoon portfolio sale represents a unique opportunity to purchase a number of high volume businesses, all of which have seen sales grow in the last five years.

CBRE To Dispose Of 34 Wetherspoon Pubs Food sales represent more than a third of total sales in pubs, having increased by 40% over the same period, which makes them ideally positioned to benefit from the continued growth in eating outside of the home.

We predict there will be strong interest from existing operators but also from new entrants who are keen to create a platform to build a successful portfolio.

The properties are as follows (Scottish outlets highlighted in bold):

Bedford Banker s Draft

Blackpool Auctioneer

Chelmsford Sir Thomas Mildmay

Chester Forest House

Derby Thomas Leaper

Didsbury Milson Rhodes

Doncaster Old Angel

Dundee Capitol (pictured above)

Enfield Picture Palace

Glasgow Society Room (pictured top)

Gloucester Water Poet

Grangemouth Earl of Zetland

Hammersmith, London Plough and Harrow

Heanor Red Lion

Kingston Upon Hull Zachariah Pearson

King s Lynn Lattice House

Lanark Clydesdale Inn

Liverpool Lime Kiln

Long Eaton Twitchel Inn

Mansfield Courthouse

Milton Keynes Secklow Hundred

Pontypool John Capel Hanbury

Portsmouth Trafalgar

Putney, London Rocket

Rotherham Corn Law Rymer

Sheffield Swim Inn

Stourbridge Edward Rutland

Stourport-on-Severn Ye Old Crown Inn

Stirling 43-51 King Street

Swindon Groves Company Inn

Trowbridge Albany Palace

West Kirby Dee Hotel

Wimslow Bollin Fee

Worthing Sir Timothy Shelley

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