Hodge Real Estate Finance has supported the acquisition of a major pub portfolio in Wales, providing a commercial investment loan to Brew Propco Limited, a company majority owned by Westbrooke Private Capital.
The deal, introduced by Arc & Co’s Cameron Hayes, sees Brew Propco take ownership of 83 long leasehold pubs across South and West Wales. Many of the sites are longstanding and well-known premises that were once part of the estate of the iconic Welsh brewery, Brains.
The pubs are currently leased to Marston’s on a 25-year term. The UK’s fifth-largest pub operator has recently sharpened its strategic focus on pub management following its divestment from Carlsberg Marston’s Brewing Company last year. In its half-year results to 29 March 2025, the group reported a strong financial performance.
Gareth Davies (pictured), senior business development manager at Hodge Real Estate Finance, said the lender was proud to play a role in such a significant transaction.
“It has been a pleasure working with Westbrooke Private Capital on this deal and we’re proud to have backed a real estate transaction of this scale in Wales, our home and our heartland,” he said.
“Supporting the acquisition of 83 long leasehold pubs across the South and West of the country demonstrates not only our commitment to the leisure and hospitality sector, but our ongoing support for businesses in Wales. Pubs remain a vital part of the social fabric, and we’re excited to be part of a deal that continues to bring communities together.”
James Lightbody, head of real estate at Westbrooke Private Capital, said the transaction marked a continued belief in the long-term strength of the sector.
“We’re delighted to complete this transaction with the support of our lending partner, Hodge,” he said. “We’ve been involved with this portfolio since its original disposal by Brains in 2021 and this transaction with Hodge allows us to continue to support the sector and those pubs which are cornerstones of their communities in Wales.”
The British Beer and Pub Association estimates that pubs contribute over £26 billion annually to the UK economy. The sector, once hard-hit by the pandemic, has seen renewed investor interest as footfall and local trade rebound in towns and cities.
