Three Thistles to sell pub business with all seven pubs going on the market


Pub company Three Thistles plc has instructed Shepherd Chartered Surveyors to sell its pub business in Scotland, which cover seven long-established licensed premises across the Central Belt.

It follows a trading update earlier this month when Three Thistles Chairman, David Low, referenced the difficult trading conditions and the intention of providing a direct exit option for shareholders.

The portfolio includes a number of well-known pubs in the Scottish hospitality sector, namely: Dram!, The Clockwork Beer Co and The West Side Tavern, in Glasgow, The Steading in Edinburgh, The Laird and Dog in Lasswade, Telfords in Paisley and The Dog House in Balloch. The units are managed by Caledonian Heritable Limited.

Glasgow West End pub, Dram! in Woodlands Road is close to The Stand Comedy Club and The Clockwork Beer Co on Cathcart Road was Glasgow’s first microbrewery opening in 1997. Meanwhile The Steading, on Biggar Road is also a well-known venue in Edinburgh.

Gary Louttit, Head of Hospitality & Leisure at Shepherd, said, “I am delighted to be bringing this highly sought after portfolio of licensed premises to the market and am confident that there will be a strong  level of interest from both local and national established operators in the sector.

“The ability to add such high profile and well trading outlets to an existing portfolio offers a rare acquisition opportunity.

“Despite the many challenges faced by the licensed trade in Scotland, many businesses are trading well and buyer appetite for such businesses remains strong, particularly within the central belt, as is underlined by the recent sales of other iconic businesses such as The Ubiquitous Chip, Hanoi Bike Shop and Stravaigin.”

Six of the seven properties are held on a freehold basis, while The West Side Tavern is held on a leasehold basis.

The portfolio is available to be sold as one or as individual units.


Category: Bar & Pub, News
Tags: Gary Louttit, Shepherd Chartered Surveyors, Three Thistles