Barkby group may cut nine pubs as it focuses on roadside property
The Barkby Group, a diversified business who operate in real estate and hospitality, has announced that it aims to dispose of its “non-core” businesses, including Barkby Pub Co, who operate in nine venues nationwide.
In a trading and strategy update, the group said its main focus was on building and scaling a portfolio of roadside real estate investments.
Barkby Real Estate is in the process of constructing two commercial schemes at Wellingborough and Malden, and said a revised planning application had been submitted for a 27,000 sq ft scheme at Swindon. Barkby Real Estate said it aims to increase their ongoing roadside property pipeline to £200m.
Revenue was down 3% year-on-year from the first quarter of 2021 for Barkby Pub Co, although the business said this was broadly in line with the overall sector. Despite continuing to grow the pub portfolio, including the acquisition of a ninth site, the Barkby Group said it does not expect its pub division to be a part of the group in the future.
Barkby Pub Co would join other subsidiaries of the group in Verso Biosense, who were sold in August, Workshop Coffee, for whom a sales process was launched in September, and Centurian Automative, who will be transferred out of the group in January.
Charles Dickson, executive chairman, said: “Following on from our July announcement we have made good progress in streamlining the Group. We have completed the sale of our stake in Verso Biosense and made further progress exiting the remaining non-core businesses.
“We remain focused on scaling the real estate business, with a particular focus on high quality modern sustainable roadside developments”.