Three pubs in Breconshire and Radnorshire are set to go on sale as Welsh brewery Brains is looking to sell almost one hundred of its venues.

The Wellington Hotel in Brecon, the Crown in Rhayader, and the Ynycedwyn Arms in Ystradgynlais are part of a 99-pub-portfolio which has an asking price of £87.3 million.

The news of the sale comes less than a year after Brains signed a deal with brewing and pubs company Marston’s for it to manage its estate on a 25-year lease.

Marston’s, which owns around 1,400 pubs across the UK, as a result took over the operation of 156 Brains pubs on a long-term lease agreement in 2020.

It initially made plans to sell 40 of the 156, but has now put a further 99 on the market - with 93 of those pubs being freehold and the other six being leasehold properties.

Property advisory firm Avison Young have been appointed to market the portfolio with the aim of securing a deal with a single investor.

Avison Young leisure team managing director Peter Constantine said: “This is a rare opportunity to acquire a large, high-quality package of public houses located in strong trading positions across Wales.

“They benefit from a secure income stream let to an excellent covenant. We anticipate significant levels of demand as packages of this quality rarely come to the market.”

Brains said restrictions during the pandemic had put the business under “significant financial pressure” and that the move would save 1,300 jobs

The 138-year-old Welsh brewery also formerly said that the firebreak lockdown in 2020 has cost the company £1.6 million.

In recent years there has been speculation around Brains’ future with some suggestion that its 150-beer brewing operation could move out of Wales, with further concerns after Marston’s asked some Brains pub landlords to become self-employed..

Brains, which is the brand name of SA Brain & Co, is a family-owned brewing and hospitality company based in Cardiff. Brains has been brewed in Wales since 1882, when it was made in the old brewery on St Mary Street in the Welsh capital, before moving to the former Hancock’s site near Cardiff Central Station in 1999.