Hodge Real Estate Finance has completed a commercial investment loan to Brew Propco Limited, supporting its acquisition of 83 long leasehold pubs located throughout South and West Wales.
Brew Propco is majority owned by Westbrooke Private Capital. The deal was introduced by Cameron Hayes at Arc & Co, a specialist capital advisory firm. Hayes played a central role in managing and delivering the transaction, which involved multiple stakeholders and a complex funding structure.
The portfolio comprises several well-established pubs previously owned and operated by the Welsh brewery Brains. The properties are now leased to Marston’s on 25-year terms.
Marston’s, currently the UK’s fifth-largest pub operator, has sharpened its focus on pub operations following its 2024 exit from the Carlsberg Marston’s Brewing Company joint venture. The company reported a solid financial performance for the six months ending 29 March 2025.
The financing reflects Hodge’s continued activity in the leisure and hospitality sector and underlines its commitment to supporting investment transactions in Wales.
Figures from the British Beer and Pub Association show that pubs contribute more than £26 billion to the UK economy annually. The sector has seen renewed interest since the Covid-19 pandemic, with many pubs reaffirming their role as key community assets.
"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," said Gareth Davies, senior BDM, real estate finance at Hodge. "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, added, "We’re delighted to complete this transaction with the support of our lending partner, Hodge. 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."
