Robinsons reaches end of disposals

William Robinson, joint managing director of the family brewer and pub operator, has told MCA that the group has come to the end of its disposal programme.

He said after several years of disposals the now 270-strong Robinsons estate will only see natural churn in the near future. He said the focus was now on strategic acquisitions and conversions for the currently 11-strong managed estate.

He said that the group’s new-style tenancy agreement, which was introduced in 2014, is now across 62% of the tenanted estate, and is proving popular.

He also mounted a spirited defence of the tied model, following the results from MCA’s licensee survey, which found a surge in publicans citing the beer tie as a negative factor on turnover. He said that the tied model had come under unprecedented scrutiny through the Pubs Code legislation but was too often wrongly blamed for the damage done by external factors. He said the industry would be better served to speak with one voice for meaningful reform on areas like business rates.

Robinson said that trade over the summer had been buoyant and had helped to make up for a sluggish start to the year, but said that underlying demand for pubs remained strong, particularly for wet-led venues.

The next investment on the managed side for Robinsons will be the George III hotel in Penmaenpool, Dolgellau, Snowdonia, which will require a closure of several months.

Robinson said the group was keen to acquire more sites but stressed that there remained a limited supply of quality sites in Robinsons core geographies.

He said: “We are in no rush to grow for the sake of it so we are happy to take our time and find the right sites. There will be conversion opportunities from the tenanted estate but it comes down to the right strategy for each pub.

“We are pleased with the uptake of the new tenancy agreement so far. It will never be for everybody but even some of our long-standing licensees are now at least seeing the benefit of it.”