JD Wetherspoon puts new pubs up for sale
Wetherspoon is also proceeding with plans for a number of new pubs and hotels as well as major upgrades to existing pubs involving a total investment of around £100m
JD Wetherspoon has confirmed that it has put a further 11 pubs across England and Wales up for sale.
CBRE and Savills have both been appointed to oversee the sales of the pubs which are mainly freehold properties with one leasehold property.
The company has confirmed that all the pubs will stay open until the point that they are sold.
In its last financial results the company stated it had sold or closed 28 pubs and the company currently has 15 pubs under offer.
Paul Breen, director at Savills, said: “These substantial and well invested pubs are likely to appeal to a broad range of potential buyers.”
Toby Hall, senior director at CBRE added: “The pubs are all in long established and proven trading locations making them ideal for both existing pub operators and new entrants”.
The company has recently reopened The Square Peg in Birmingham and The Lord Palmerston in Southsea, after major refurbishment, costing approximately £1.5m.
The company is also currently redeveloping and extending pubs in Wakefield, central Cardiff and central Glasgow at a total cost of approximately £8m.
Wetherspoon is also proceeding with plans for a number of new pubs and hotels as well as major upgrades to existing pubs involving a total investment of around £100m.
