The philanthropist son of oil tycoon Sir Ian Wood has sold two bars in Aberdeen and Edinburgh to leisure entrepreneur Stefan King’s G1 Group.
Garreth Wood’s Speratus Group said the sale of The Illicit Still in Aberdeen and Edinburgh’s Golf Tavern comes amid plans for a £500,000 investments in its remaining venues, along with the expansion of his Boozy Cow burger chain, which is committed to donating all its annual profits to charity.
Speratus managing director Martin Brown said: “These are exciting times at the Speratus Group as we focus on reinvesting in our venues as well as opening additional Boozy Cow burger and cocktail bars in new locations in Scotland and England.
“We are moving ahead with our plans to expand the Boozy Cow concept and will be opening our new venue in Stirling in early September, and we are actively exploring opportunities in other cities across the UK.”
Founded in 1456 and previously known as the Golf Hotel, Ye Olde Golf Tavern was used as the Bruntsfield Links Society clubhouse from 1788 until the early 19th century. It is a popular student haunt, as is the Illicit Still, which sits close to Aberdeen’s imposing granite Marischal College, now the city council’s headquarters.
No value was disclosed on the deal, which leaves Speratus with the Paramount Bar and Nox nightclub in Aberdeen, along with Edinburgh’s 99 Hanover Street, Auld Hundred and Copper Blossom, as well as Boozy Cow venues in both cities.
Glasgow-based G1 owns more than 50 sites, including the Espionage nightclub in Edinburgh, Glasgow’s Corinthian Club and the Perth Playhouse cinema.