JDW to sell 11 pubs
The sites, which comprise a mix of 10 freeholds and one leasehold unit, are located in town and city centre locations across England and Wales and are being considered for sale either individually, in small packages or as a portfolio.
Savills director Paul Breen said: “These substantial and well-invested pubs are likely to appeal to a broad range of potential buyers.”
CBRE senior director Toby Hall added: “The pubs are all in long-established and proven trading locations, making them ideal for both existing pub operators and new entrants”.
JDW confirmed it has decided to sell 11 of its 822 pubs and added the pubs will remain open pending their sale.
A company spokesperson said: “JDW is continuing to invest in its business and 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.”
They also said JDW is also going ahead 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.
Pubs to be marketed
The pubs JDW is selling are:
- Abertillery – the Pontolottyn
- Cardiff – the Ivor Davies
- Chesterfield – Spa Lane Vaults
- Doncaster – the Gate House
- Holywell – the Market Cross
- Kirkby in Ashfield – the Regent
- Moreton – the Mock Beggar Hall
- St Ives – the Hain Line
- Shipley – the Sir Norman Rae
- Swindon – the Sir Daniel Arms
- Todmorden – the White Hart
Earlier this month, JDW announced it would cut prices by 7.5% for a day to highlight how a permanent VAT reduction would be of immense benefit for the hospitality sector.
Prices were reduced on Thursday 14 September to mark Tax Equality Day and in Scotland.
JDW chairman also called on the chancellor of the exchequer Jeremy Hunt to create tax equality between pubs and supermarkets.
Vast disparity
He said: “The biggest threat to the hospitality industry is the vast disparity in tax treatment among pubs, restaurants and supermarkets.
“Supermarkets pay zero VAT in respect of food sales, whereas pubs and restaurants pay 20%. This tax benefit allows supermarkets to subsidise the selling price of beer.
“Pubs have been under fantastic pressure for decades, because of the tax disadvantages they have with supermarkets.
“Customers coming to JDW pubs on Thursday 14 September will find the price of their food and drinks to be lower than normal.”
