Wetherspoon to dispose of 33 further sites

Claire Dodd

Claire Dodd

20 May 2016

JD Wetherspoon is set to part with another 33 sites from its estate, as part of a continued strategy of disposals.

Property agents CBRE and Savills have been jointly appointed to market the sites – which form a total bundle of 45 pubs – either as individual properties or small packages.

The pubs are located in 'strong town and city centre locations' within England, Scotland and Wales, however 23 of the 45 outlets are located close to London or in the South of England.

A spokesperson for the joint agents said: 'The portfolio represents an excellent opportunity to acquire high volume businesses with strong food sales in established locations which are fitted to an extremely high standard.  We therefore anticipate a broad range of interest from pub, bar and restaurant groups.'

Of the 45 outlets, 16 are freehold or held on a long lease at a ‘low’ rent with the remaining 29 outlets held on standard commercial leases with an average unexpired term of more than 18 years. Nine of the venues are currently closed. They can be viewed at www.jdwdisposals.com.

The news comes after sales of similar bundles of the Wetherspoon estate have been snapped up by operators including Amber Taverns, Brewhouse & Kitchen, Hawthorn Leisure, Stonegate and Urban Pubs & Bars.

Wetherspoon announced in its latest trading statement in early May that it expects to open 16 new pubs in this financial year.

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