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Fri 30th Sep 2016 - JD Wetherspoon to sell further five pubs
JD Wetherspoon to sell further five pubs: JD Wetherspoon has appointed CBRE and Savills to sell a further five of its pubs, taking the number of properties currently available on the market to 26. The properties comprise a mix of 11 freehold/long leaseholds and 15 free-of-tie leases located in strong town and city centre locations within England, Scotland and Wales. The assets are being considered for sale either individually, in small packages or as a portfolio. The five new pubs being marketed are the Robert Hamilton, Airdrie; Central Bar, Cardiff; Robert Ransome, Ipswich; Jug & Jester, Leamington Spa; and Colombia Press, Watford. This new campaign follows the initial success of a sales programme by Wetherspoon that has seen properties sold in recent months to operators including Stonegate, Hawthorn Leisure, Amber Taverns, Brewhouse & Kitchen, Intertain, Urban Pubs & Bars and Draft House. A spokesperson on behalf of the joint agents commented: “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 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.”

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