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JD Wetherspoon has bought the leasehold Walkabout site in Newport, Gwent, from Regent Inns.

Dire corporate chav palace chain JD Wetherspoon, who specialise in latter day gin palaces, a chain of supermarkets in pub clothing has bought another pub to sell cheap Zebu bushmeat burgers and fizzy larger to chavs.

The lease has been on the market with Christie+Co for £45,000. It is understood that Wetherspoon has not paid a premium and has negotiated a new lease with the landlord.
The venue has 22 en-suite letting rooms and five conference rooms. It has a capacity of 330 in the main bar and 660 in the basement.
Takings were £845,462 in the most recent year, with a rent per annum of £135,000, offset by rent collected from two sub-let retail units.
Wetherspoon plans to spend around £600,000 on the site and re-open it in the next six months.
The company has been buying a number of second-hand pubs and has reported that development costs are running at 36% less per square metre than last year.

With 3 Wetherscum pubs already in Newport selling cheap booze, undercutting local pubs with loss leader products and passing the blame for anti-social behaviour onto the supermarkets this is the last thing that we need. 

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3 people have spoken:

Man Of The Woods said...

Zebu; I had wondered why Wetherspoon's steaks taste like cardboard.

Now I know.

Fidothedog said...

Yep the finest South American bushmeat. Yummy!

it's either banned or compulsory said...

One of the features of Weatherspoons rapid initial growth was that they would not open in formerly licensed premises, partly because of the 'history' those places had.
All the early Weatherspoons, which were great if you had started drinking in The Formica Arms, were thus " new pubs ".

His first one, Stroud Green Rd, Islington if I recall correctly, was previously a double shop front Car Sales outlet, bought from dodgey Ex-Arsenal football player, Frank Mclintock.

Strange but true, they were like a breath of fresh air at the time.