Boozers in places such as Bromley, Canterbury, Hove and Walthamstow have all been put on the market, with estate agents at Savills leading the sale process
Pub chain giant Stonegate Group has put 23 locations up for sale as part of a major restructure.
Boozers in places such as Bromley, Canterbury, Hove and Walthamstow have all been put on the market, with estate agents at Savills leading the sale process. The pubs all remain trading as normal during this period. You can find a full list of locations below.
Stonegate has more than 4,000 sites in the UK and owns popular bar chains such as Slug & Lettuce and Be at One. The company was created in 2010 after private equity firm TDR Capital purchased 333 pubs from Mitchells & Butlers for £373million.
It comes after The Telegraph reported in June this year that Stonegate had hired consulting firm AlixPartners to work on a restructure of the business. At the time, the group was said to be looking to cut up to 150 head office jobs to reduce costs.
A spokesperson for Stonegate said: “As the UK’s largest pub company, we regularly review our portfolio for divestment opportunities. This package being marketed by Savills is a business-as-usual transaction.”
Stuart Stares, director in Savills licensed leisure, said: “Pubs are proving to be a resilient and increasingly attractive asset class, driven by the sector’s strong fundamentals – long leases, index-linked rent reviews and resilient trading performance.”
Full list of Stonegate pubs up for sale
- Dog & Duck, Walthamstow
- Fagins, Brookthorpe
- Feathers, Chalfont St Giles
- Frankland Arms, Washington
- Garden Bar, Hove
- Golden Ball, York
- Harbour Moon, West Looe
- Letters Inn, Tattenhall
- Malthouse, Timsbury
- Milehouse, Cross Heath
- Moorings, Loughborough
- Pax Inn, Thorp Arch
- Romantica, Sutton Coldfield
- Salthouse Hotel, Clevedon
- Seven Stars, Canterbury
- Star, Hampton Hill
- Wickham Arms, Brockley
- Windmill, Peterborough
In more pub news, Greene King has launched its first-ever loyalty rewards programme – and customers can get free drinks and food.
New customers who download the Greene King Pubs and Restaurants app will have access to a new “Spin to Win” feature where prizes ranging from a free drink to a main meal worth up to £18.99.
Each new member gets one spin when they register through the app and the rewards are redeemable at Greene King Pubs, Belhaven Pubs, Flaming Grill, Chef & Brewer, Farmhouse Inns and Hungry Horse.
You can download the Greene King app for free from your app store. The move comes as new Greene King research reveals more than seven in ten Brits (71%) say the cost of living as their biggest concern.
Despite this, more than a quarter (28%) still see eating and drinking out as their favourite “small treat”. It comes after Greene King gave away free pints earlier this year to mark 25 years of the Guinness Six Nations Rugby tournament.