Brains puts up almost 100 Welsh pubs for sale
BREWERY Brains has put almost 100 of its Welsh pubs up for sale with an asking price of £87.3m.
Pubs included in the up for sale portfolio include the City Arms in Cardiff city centre, the Halfway in Pontcanna, Cardiff, the Harbour in Solva and the Dovey Inn in Aberdovey.
This comes less than a year after a deal between the Welsh brewery and pub company Marston’s, in which the latter took over the operation of 150 of its pubs on a long-term lease agreement.
Brains has since sold the freehold interest in a number of its pubs and it is now selling this in 99 pubs covered in the recent deal.
Almost all of these pubs are in South Wales, namely Cardiff, Newport and Swansea.
Pubs up for sale include five in Cardiff city centre, and Pump House on the Swansea waterfront.
Brains is the brand name of SA Brain & Co, a family-owned brewing and hospitality company based in Cardiff.
Over the last few years, the future of the famous Welsh brand has come into question, with the suggestion that the brewing operation of 150 different beers will move out of Wales.
Concerns were again raised last month, when Marston’s asked some Brains’ pub landlords to become selfemployed.
Property advisory firm Avison Young have been appointed to market the portfolio with the aim of striking a deal with an single investor.
Peter Constantine, managing director of the 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.”
In August, the Echo reported on plans for Brain’s former site, which is set to become a seven-storey hotel.