Marston's to market 61 freehold pubs
The assets, which are a selection of the pubco's non-core properties, include a mix of leased, tenanted, retail and managed pubs, and are available to purchase individually, in small groups or as a group package.
Marston's head of estates Judith Rafique said: “Following a routine review of our estate we have taken the decision to offer to market a varied range of property types. This enables us to focus on our strategic objectives and maximise returns from our core estate.”
Wonderful opportunity
Business property adviser and pub specialist Christie & Co has been instructed to market the portfolio.
Christie & Co senior director corporate pubs and restaurants, Noel Moffitt, who is managing the sales process, said: “This is a fantastic opportunity for individuals and multiple operators to acquire established successful public houses across England and Wales.
"The pub sector has been very resilient over the last few years and has adapted well to the challenges and despite interest in the sector there is a lack of properties on the market. This portfolio offers new entrants and existing operators a wonderful opportunity to acquire investments or operate their own businesses.”
Earlier this year, Marston's reported its like-for-like sales were up 4.5% for the 16-week period to 21 January 2023 compared to FY2020, the last period unaffected by Covid-19, with the pubcos drinks sales outperforming its food sales.
Positive sales momentum
Total retail sales in the group’s managed and franchised pubs were up 14% on 2022 and up 7.3% vs FY2020.
Regarding the sales report, Marston's CEO Andrew Andrea said: “We have continued to see positive sales momentum through the festive season and into the New Year, with particularly strong demand on the key Christmas and New Year trading days.
“Whilst we still have certain cost challenges to navigate in 2023, we are well-positioned to continue to progress our strategy and are encouraged by the level of consumer resilience experienced to date.”
