Brains Brewery: Cardiff firm puts 99 pubs up for sale

Brains has put 99 of its pubs across Wales up for sale, with offers over £87.3 million sought for the portfolio.

The Cardiff-based brewery signed a deal with chain Marston's last year for it to manage its estate on a 25-year lease.

At the time, it said restrictions during the pandemic put the business under "significant financial pressure" and the move would save 1,300 jobs.

Real estate advisors said it expected "significant levels of demand".

The 138-year-old Cardiff-based brewery said the firebreak lockdown last year had cost it £1.6m.

As a result, Marston's took over the running of 156 of its pubs.

It initially made plans to sell 40 of these, but has now put a further 99 on the market - with 93 of these freehold and six leasehold properties.

They include The City Arms in the heart of Cardiff, The Harbour Inn, Solva, Pembrokeshire and Llanelli's Half Moon.

"This is a rare opportunity to acquire a large, high-quality package of public houses located in strong trading positions across Wales," said Avison Young's Peter Constantine, who is marketing them.

"They benefit from a secure income stream let to an excellent covenant. We anticipate significant levels of demand as packages of this quality rarely come to the market."

Brains has been brewed in Wales since 1882, when it was made in the old brewery on Cardiff's St Mary Street, before moving to the former Hancock's site near Cardiff Central Station in 1999.

In March 2019, it moved to its new central brewery in East Moors, Cardiff.

However, former chief executive Alistair Darby said earlier this year the coronavirus pandemic had been "absolutely brutal" and this could close.