The Worsley Old Hall

Whitbread set to sell four pubs

27th July 2009, 10:57am

Whitbread has instructed Christie + Co and Gerald Eve to jointly market four of its pubs, which are spread across England.

The package of pubs includes one freehold, the Nevill Crest & Gun in Kent, and three long leaseholds, the Down Grange in Hampshire, the Greaves Park in Lancashire, and the Worsley Old Hall in Greater Manchester.

The Nevill Crest & Gun near Tunbridge Wells currently trades as a Brewers Fayre. The Grade II-Listed property, which is believed to date back some 500 years, features a main bar with two seating areas, an 84-cover restaurant, a 90-cover beer garden, and a circa 45-space car park.

The site also includes a flat, bedsit, and attic rooms, plus manager's four-bedroom accommodation within a detached converted barn.

The Down Grange near Basingstoke, which also currently trades as a Brewers Fayre, features a total of 180 covers for dining, a 22-cover bar, a 40-cover external drinking area, and a circa 106-space car park. The Georgian-style property, which dates back to the early 1800s, is held on a 125-year lease from October 1985, with a current rent per annum of £34,000.

Situated in a parkland setting outside Lancaster, the Greaves Park features a total of 170 covers spread across five different sections and a number of private dining areas. It also includes a circa 70-space car park, 110-cover beer garden, and extensive manager's and staff living accommodation.

The pub, which originally traded as a Brewers Fayre until it was extensively refurbished as a Table Table around two years ago, is held on a 999-year lease from February 1996, at a peppercorn rent.

The Worsley Old Hall in Worsley, near Manchester, is situated in an established parkland setting close to the M60 and currently trades as a Brewers Fayre. This large Grade II-Listed property dates back to the 17th Century and features a main bar, a 28-cover bar servery, six meeting rooms, circa 200-covers externally, and main dining areas, which provide circa 220 covers in total. It also includes three flats for manager's and staff accommodation.

The site is held on a 121-year lease from October 1998, with a current rent per annum of £81,026.

Offers are invited for the package as a group or individually.

Simon Hobbs, head of asset management at Whitbread, said: "It is not our intention to run standalone Pub Restaurants in the future as our long-term strategy is to only operate Pub Restaurants with a hotel alongside where we can capture the benefits of both our Premier Inn and Pub Restaurant brands."

Chris Ford, partner at Gerald Eve, added: "Properties of this quality rarely come on to the open market and we anticipate they will attract a high level of interest."

Related Articles:

• 11 Apr 2012 - Whitbread appoints new managing director of Costa Coffee
• 12 Aug 2011 - Whitbread hotel and restaurant group to sell and lease back seven Premier Inn properties
• 28 Apr 2011 - Whitbread achieves strong revenue growth with sales up 6.6%
• 24 Jan 2011 - Whitbread restaurants introduce range of lower salt soups
• 08 Dec 2009 - Whitbread targets 26% reduction in CO2 emissions by 2020
• 07 Sep 2009 - Whitbread's total group sales rise by 2.4%
• 02 Sep 2009 - Whitbread achieves top grade for hospitality programme
• 20 Aug 2009 - Whitbread launches environment report

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