Brains puts Cowbridge pubs up for sale
By Ellyn Wright
11th Oct 2021 | Local News
Brains is putting two of its pubs in the Cowbridge area up for sale.
The Duke of Wellington Hotel and the Sycamore Tree Inn in Colwinston are on the market.
The Cardiff brewery is seeking an asking price of £87.3 million for almost a hundred Welsh pubs, in an effort to combat financial pressures caused by COVID.
Last year, Marston's stepped in to run 156 Brains' pubs on a long-term lease, in an attempt to safeguard around 1300 jobs nationwide.
The two-week firebreak lockdown last Autumn is said to have cost the brewery around £1.6 million.
Most of the properties on the market are freehold and property advisors are expecting ''significant levels of demand''.
SA Brain & Co chief executive Jon Bridge, said the last 18 months had ''clearly been a challenging period''.
''However, through the steps taken and support we have received from our stakeholders, we continue to brew our famous beers in the heart of Cardiff," he said.
''There has been a significant amount of interest in the portfolio of pubs and this strategically planned sale is the next step on the positive journey of recovery for Brains.''
Locally, the Brains pubs put up for sale in the county include:
• Cwm Talwg, Barry
• The Albion, Penarth• Merrie Harrier, Penarth
• The Pilot, Penarth• Duke of Wellington Hotel, Cowbridge
• Kings Head, Llantwit Major• Star Hotel, Dinas Powys
• Sycamore Tree Inn, Colwinston• Tynewydd Inn, Barry
Around 34 pubs in the Cardiff area are also included in the deal, including Coopers Cavery at Culverhouse Cross, The Packet in Cardiff Bay, and The City Arms in the city centre.
The pub chain is reproted to earn Marston's around £5.4 million a year.
Estate advisors Avison Young are overseeing the sale and are aiming to offload the entire portfolio to a single investor. Peter Constantine, managing director of Avison Young's leisure team, said: ''This is a rare opportunity to acquire a large, high-quality package of public houses located in strong trading positions across Wales.'' ''They benefit from a secure income stream let to an excellent covenant. We anticipate significant levels of demand as packages of this quality rarely come to the market.''
New cowbridge Jobs Section Launched!!
Vacancies updated hourly!!
Click here: cowbridge jobs
Share: