Marston's plans to sell off 61 pubs including in Wolverhampton, Dudley and Shropshire
Marston's pubs and restaurants group is selling off 61 of its pubs after a review of its UK estate.
The Wolverhampton-based group has instructed business property adviser and pub specialist Christie & Co to market the selection of freehold pubs in England and Wales.
It would take the national pub company’s estate below 1,400 properties.
The full list of pubs has yet to be revealed but it includes eight in the West Midlands, including several in the Wolverhampton and Dudley areas and one in Shropshire.
The pubs are part of Marston’s non-core properties and include a mix of leased, tenanted, retail and managed pubs, and are available to purchase individually, in small groups or as a group package.
Noel Moffitt, senior director for corporate pubs and restaurants at Christie & Co, who is managing the sales process, explained: “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.”
Judith Rafique, head of estates at Marston’s added: “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.”
The pubs are being marketed under the project name Project Aramis.
It is thought the package will attract interest from the likes of Red Oak Taverns, the national pub operator founded by Aaron Brown and Mark Grunnell in 2011, and Valiant Pub Company.
Both companies have already acquired pubs from Marston’s over the past 12 months.
Last month Marston’s reported positive sales over the Christmas period.
The company, which has recently moved its head office to St John's House, Wolverhampton, said like-for-like sales for the 16-week period to January 21 were up 12.9 per cent.
Chief executive Andrew Andrea said then that Marston’s pub estate was well-invested and that trading momentum was continuing to build.
The group's primary focus remains to meet its strategic goals of achieving £1 billion sales and reducing its debt to below £1 billion.
Marston's, which employs around 12,000, currently has no plans for any fresh pub openings.
