Is the Wetherspoons near you up for sale We reveal the 34 pubs on the market

Is the Wetherspoons near you up for sale? We reveal the 34 pubs on the market as firm aims to raise £40million

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JD Wetherspoon has put 34 pubs with an estimated value of up to £40million on the block less than a week after it warned of a second year of falling profits because of the impact of higher staffing costs.

The fire sale marks the biggest sell-off since it was founded 36 years ago, with locations ranging from as far south as the Trafalgar, in Portsmouth, to as far north as the Society Room, in Glasgow. 

The pub operator has appointed adviser CBRE to handle the sale of the 34 pubs in England, Scotland and Wales.

Tough times: This is the first time Wetherspoons has ended the year with fewer pubs than it started with

Tough times: This is the first time Wetherspoons has ended the year with fewer pubs than it started with

Chairman Tim Martin said: 'Every five to ten years we go through a process of disposing of pubs. This is not a anxiety sale, ahead of the Living Wage being introduced next year.

'It is a periodic review of the portfolio. The pubs we are selling average 20 to 30 per cent less sales than other Wetherspoon pubs.' 

Keith and Diane Marsden - Licencees of the year award winners - who run the Prince of Wales pub in Moseley....images supplied by <script type='text/javascript'>
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 </script> Managing a pub CAN pay - if you make it different: Forget... JD Wetherspoon pub in central London, the pub chain said today that it would create 10,000 jobs over the next five years with the opening of 250 new pubs.

PRESS ASSOCIATION Photo. Issue date: Tuesday December 1, 2009. The business, which currently employs 21,000 people and has 743 pubs across the UK, is to invest £250 million in the new outlets over the period. See PA story CITY Wetherspoon. Photo credit should read: Tim Ireland/PA Wire

File photo dated 20/01/09 Pubs chain Wetherspoons closes the taps on Heineken after... Pie and a pint: Around 15,000 pubs, bars and restaurants in the UK will slash the price of food and drink by 7.5 per cent for one day only today in a bid highlight the benefits of a reduction in VAT 'VAT at 20% is killing us': Prices at pubs and restaurants... Share this article Share

Back in July the company announced it was disposing of 20 leasehold pubs. But 27 of the latest 34 are either freehold or long leasehold and they have a combined turnover of £38million with average weekly sales per pub of more than £22,000.

Stonegate Pub Company, the second biggest high street pub operator after Wetherspoons, is the favourite to snap up the pubs.

The disposals, coupled with a scaled-back new pub openings target of 15 pubs, mean this will be the first time Wetherspoons has ended the year with fewer pubs than it started with.

Last week, the company which has 953 pubs, said it was considering a small number of freehold disposals in the course of the financial year.  

Analysts said that the disposals were confirmation by Wetherspoons that its tail of bottom-end pubs needed urgent weeding amid falling margins. The proceeds would also enable the company to get rid of some of its debt.

LIST OF WETHERSPOON PUBS FOR SALE ACROSS THE UK

1. Bedford - Banker's Draft

2. Blackpool - Auctioneer

3. Chelmsford - Sir Thomas Mildmay

4. Chester - Forest House

5. Derby - Thomas Leaper

6. Didsbury - Milson Rhodes

7. Doncaster - Old Angel

8. Dundee - Capitol

9. Enfield - Picture Palace

10. Glasgow - Society Room

11. Gloucester - Water Poet

12. Grangemouth - Earl of Zetland

13. Hammersmith, London – Plough and Harrow

14. Heanor - Red Lion

15. Kingston Upon Hull - Zachariah Pearson

16. King’s Lynn - Lattice House

17. Lanark - Clydesdale Inn

18. Liverpool - Lime Kiln

19. Long Eaton - Twitchel Inn

20. Mansfield - Courthouse

21. Milton Keynes - Secklow Hundred

22. Pontypool - John Capel Hanbury

23. Portsmouth - Trafalgar

24. Putney, London - Rocket

25. Rotherham - Corn Law Rymer

26. Sheffield - Swim Inn

27. Stourbridge - Edward Rutland

28. Stourport-on-Severn - Ye Old Crown Inn

29. Stirling - The Crossed Peels

30. Swindon - Groves Company Inn

31. Trowbridge - Albany Palace

32. West Kirby - Dee Hotel

33. Wimslow - Bollin Fee

34. Worthing - Sir Timothy Shelley

Paul Breen, Senior Director of CBRE's Specialist Markets team, said: 'The portfolio represents a rare opportunity to acquire substantial high volume businesses which have seen sales growth in each of the last five years.

He added: 'Food sales represent more than a third of total sales, having increased by 40 per cent over this period, which makes the pubs ideally positioned to benefit from the continued growth in eating outside of the home. 

'We anticipate strong interest from existing operators and new entrants keen to create a platform which can be used to build a successful managed estate.' 

Last Wednesday Martin, who has been a vocal opponent of the National Living Wage, used a first-quarter trading update to warn of ‘annual profits being slightly lower than the last financial year’.

He said profit margins fell to 6.2 per cent, compared with 7.7 per cent in the same quarter a year earlier.

The firm predicted that net debt at the end of the financial year would be slightly above last year’s total of £601million.

Martin said: ‘As we indicated in September, it is difficult to quantify exactly the factors which will influence our trading performance in the early stages of a financial year.

‘Increased labour costs are clearly an important factor for all pub and restaurant companies and may result in our annual profits being slightly lower than the last financial year.’

In September, Wetherspoon said pre-tax profit fell 25.1 per cent to £58.7million for the 52 weeks to July 26, down from the £79.4million the previous year.

Wetherspoon also has to face the introduction of the National Living Wage from April next year, whereby staff over 25 must be paid at least £7.20 an hour, rising to £9 by 2020.

Martin claimed in the summer that it would add ‘considerable uncertainty’ to the pub sector.

Staff costs make up around 25 per cent - or 75p - of every pint sold for an average of £3 in pubs, according to Wetherspoon’s. 

On the block: The Old Angel in Doncaster - a favourite haunt among locals - is for sale

On the block: The Old Angel in Doncaster - a favourite haunt among locals - is for sale

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