Brains ‘keeping its options open' on 40-pub portfolio sale
Welsh brewer Brains hopes to sell the 40-strong portfolio of pubs it has brought to market as a single lot, but is 'keeping its options open'.
In a statement to the Caterer today Peter Constantine, principal managing director of real estate advisor Avison Young which is marketing the sites, said: "We're instructed to sell the pubs, ideally as a single lot, but our client will keep its options open in order to optimise the value from this portfolio."
Last week Brains announced the portfolio was for sale in order to grow the profitability of the business and ‘future-proof' it.
Commenting on the news of the portfolio coming to market, Campaign for Real Ale (CAMRA) chairman Nik Antona said: "It is vital that these 40 Brains pubs are marketed as going concerns, so that different pub operators have a chance to take them on. Local communities and pub staff deserve rapid reassurances that everything will be done to secure the future of these pubs.
"Giving people a say through the planning system if their pub is being sold, converted into another use like housing or is facing demolition would give pubs better protections and a chance to thrive under new ownership."
Founded in Cardiff in 1882, Brains controls more than 250 pubs and hotels in South Wales, Mid Wales and the West Country.
