Landmark city bar sells to veteran operator
A LANDMARK bar in Glasgow’s west end has been sold by pub company Three Thistles for a sevenfigure sum to experienced operator Peter Di Ciacca, owner of Riva Restaurants.
The sale of Dram on Woodlands Road, based in premises which traded for many years as Uisge
Beatha, was conducted by Shepherd Chartered Surveyors. Shepherd described the bar as the “first of a magnificent seven licensed premises stretching across Scotland’s central belt” to be sold on behalf of Three Thistles.
It said the sale had been made at an “optimum price”, and revealed “offers are in place for the remainder of the portfolio”.
Among the other licensed premises being sold on behalf of Three Thistles are The Clockwork Beer Co on Glasgow’s south side, country-style inn The Steading on the outskirts of Edinburgh, the West Side Tavern at Partick in Glasgow, The Laird and Dog in Lasswade, Telfords in Paisley, and The Dog House in Balloch.
Gary Louttit, head of hospitality and leisure at Shepherd, said of the sale of Dram: “I’m delighted to have brought this iconic business to the market and to have been able to see the huge level of interest shown in it, resulting in an early sale at an optimum price.
“Offers are in place for the remainder of the portfolio, and I expect to see all of the properties completing in the coming weeks.”
Shepherd noted: “Dram on Woodlands Road is located in a long-established licensed leisure circuit in the west end of Glasgow and in close proximity to The Stand Comedy Club.”
The sale of the sevenstrong portfolio of licensed premises by Three Thistles was announced last November. Mr Louttit said then: “It is a very voluntary, and a pre-judged decision by the shareholders to put it to the market.”