West Midlands pubs part of Wetherspoon’s planned disposal

PUB operator JD Wetherspoon plan to sell 45 of its pubs as part of a review of its estate.

It has appointed agents Savills and CBRE to handle the disposal, with the pubs being considered for sale either individually, in small packages or as a portfolio.

The sites include six in the West Midlands. Four are leasehold – The Soloman Cutler on Broad Street, Birmingham, the Gatehouse in Lichfield, the Silk Kite in Tamworth and the Imperial in Walsall – while the group owns the freehold on two, the Felix Holt in Nuneaton and the Lawrence Sheriff in Rugby.

At £275,000 per year, the 13,200 sq ft The Soloman Cutler has the second-highest rent in the 45-strong portfolio.

A JD Wetherspoon spokesperson said: “The portfolio represents an extremely rare opportunity to acquire high volume managed houses in established locations that have a high proportion of food sales.

“They should appeal to existing operators looking to expand, to new entrants looking for a major platform which can be used to build a successful managed house estate and to investors keen to gain further representation in the sector.”

Of the 45 pubs, 33 are being brought to the market for the first time. The launch of the portfolio by JD Wetherspoon follows the successful sale of packages of pubs in recent months to operators including Amber Taverns, Brewhouse & Kitchen, Hawthorn Leisure, Stonegate and Urban Pubs & Bars.

Click here to sign up to receive our new South West business news...
Close