JD Wetherspoon has announced plans to sell 34 pubs in England, Scotland and Wales.

The pub operators says the properties will be sold as a portfolio, in small packages or individually.

27 of the pubs are owned either freehold of held on a long lease and the remaining seven are held on leases with an average unexpired term of 18 years. 

Together they generate sales of over £38m or an average weekly turnover of £22,000 per pub.

JD Wetherspoon has appointed CBRE, the real estate services adviser, to handle the sale.

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.

“Food sales represent more than a third of total sales, having increased by 40% 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.”