Marston’s pub chain puts 61 venues up for sale
Large pub chain Marston’s has confirmed it is selling dozens of sites across the UK in a strategic move to “maximise returns”.
Marston’s Brewery, which owns more than 1,400 pubs across Britain has announced it’s selling 61 pubs in order to focus on its “core venues” and “maximise returns”.
As a result, 61 pubs, including properties in the Midlands, Yorkshire and Wales, are being sold off, with the sales process to be managed by estate agent Christie & Co. under the code name ‘Project Aramis’.
The pubs that are being sold will remain open and operational until they are bought, after which the decision will lie with the new owners as to whether to keep the venue running as a pub or transition the property into another commercial business, or indeed a home.
Among the many pubs up for sale are the Bridge Inn in Richmond, the Oxleathers in Stafford, the Bedford Arms in Derby and the Firebug in Leicester.
According to The Caterer, the pubs are available to purchase individually, in small groups or as a whole package.
In a trading update in January of this year, Marston’s said its sales had grown by 12.9% over the Christmas period, when compared with the previous year, and that it was aiming to reach £1 billion in sales.
In February, the drinks business reported that rival pub chain Stonegate is looking to sell 1,000 pubs as a result of ballooning energy costs.
“We know what we’re going to pay in February and March, but we still don’t know what we’re going to pay beyond that,” explained Stonegate’s chairman Ian Payn.
Wetherspoons announced last year that it planned to sell off around 40 venues due to changes in consumer behaviour and soaring costs.
That number rose again in November after the pub chain witnessed a 1.1% sales drop.