A famous Glasgow pub owned by the same family for more than four decades has been sold.
The buyer of The Laurieston Bar, at Bridge Street in the Gorbals, is described by selling agent Christie & Co as a “private investor who has confirmed that the business will continue to operate as it has done for over 40 years”.
Christie & Co said it had been "inundated with interest from the outset" of the sale process.
READ MORE: Ian McConnell: Scottish income tax row blows up
Asked about the identity of the private investor who has acquired the pub, a spokeswoman for Christie & Co replied that the “buyer wishes to remain private”.
Christie & Co said that a member of the Clancy family, which has owned the wet-led pub for more than 40 years, would “remain involved to carry on the longstanding traditions that have deservedly made the establishment one of Glasgow's favourites”.
It noted the pub had come to the market “to allow the current owners, John and James Clancy, to devote more time to their families”.
Tony Spence, the Christie & Co associate director who handled the sale, said: “I am delighted to have been involved in the sale of this iconic public house in Glasgow. This was a rare opportunity to purchase a proper ‘boozer’ with high turnover and profits. We were inundated with interest from the outset and were able to set a swift closing date and achieve a great result for our clients.”
READ MORE: ‘We could get the violin out. We have just got to get on with it.’
John and James Clancy said: “We wish the new owner the very best for the future and are delighted that their plan for The Laurieston Bar is to continue to be 'just a pub’. We would also like to thank Tony Spence for his professionalism throughout the whole sale process, and offering support and advice whenever needed.”
When the pub was put up for sale last autumn, Christie & Co noted The Laurieston Bar “is within one of the city’s most popular pub-crawl circuits, and benefits from local and tourist trade year-round”.
It added: “The Laurieston has maintained a traditional theme throughout, featuring panelled walls and ceilings, memorabilia and drawings from local artists which all add to the pub's charming character. The pub is also well-known for hosting regular events such as live music, comedy and club nights.”
READ MORE: Ian McConnell: Good news on Scotland but some do not like it at all
John and James Clancy said then: “In any family business, family is the priority. After 40 years serving ‘The Laurieston Bar family’, we would now like to devote more time to serving the Clancy family. It goes without saying it will be business as usual until the right buyer is found.”
Mr Spence said then that The Laurieston Bar business “is well placed to succeed going forward and would suit…an owner-operator or could be added to an existing portfolio”.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here