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Gloucestershire Business News

No last orders for local Marston's

Marston's-owned pubs in Gloucestershire have escaped a big sell-off.

Pub company Marston's has announced a cull of 61 of its "non-core" venues in the UK – but all nine of its pubs across Gloucestershire will escape the move.

The sale, conducted by Christie and Co under the name 'Project Aramis', follows a review of its 1,400-pub estate, the sites being a mix of leased, tenanted, retail and managed pubs. Venues are available individually, in small groups or as a package.

In January, a trading update indicated Marston's sales had risen 12.9% across the festive period (compared to 2022), but that it was chasing £1bn in sales as a target to cut debt below the same figure.

Marston's is not alone in this move: pub chains looking to offload outlets over the last few months include Stonegate, Britain's biggest player, which was said to have put around 1,000 of its pubs up for sale in January, a move that totalled a reported £800m.

And late in 2022, JD Wetherspoon sought to sell around 45 pubs, group chairman Tim Martin warning that pubs faced a challenge to attract back customers who had adapted new lockdown consumer habits, including buying cheaper supermarket drinks.

The move will enable the group to focus on strategic objectives and maximise returns across core sites, according to Judith Rafique, Marston's head of estates.

Noel Moffitt, director for corporate pubs and restaurants at Christie & Co, said the portfolio offered new entrants and existing operators "a wonderful opportunity to acquire investments or operate their own businesses".

Mr Moffitt added: "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."

The closest pub to Gloucester being offered in Marston's sell-off is the King Charles in Ross-on-Wye.

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