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REGULAR readers will be very much aware of British Waterways' pub fiasco, that cost it many millions when it went into liquidation, yet it is going back into the business—buying another!
This proves once again that it prefers to 'invest' in property rather than its canals and rivers, as British Waterways has acquired yet another pub, writes Allan Richards.
 British Waterways has just purchased The Boathouse next to the Auchinstarry Marina for a reported £1.3 million from Colliers International. Colliers were acting on behalf of Pricewaterhouse Coopers, who are joint administrators for Waterside Pub Partnership.
Waterside Pub Partnership
The Waterside Pub Partnership, a joint venture between British Waterways and Scottish & Newcastle Pub Enterprises, went into administration last year with massive debts despite British Waterways spending £10m buying nine of its pubs. Now, it appears that it has purchased a tenth pub, this time from the receivers.
The Boathouse was built by Waterside Pub Partnership next to the BWML operated Auchinstarry Marina on the Forth & Clyde Canal in 2008 at a cost of £2m. It was claimed at the time to be Scotland's first eco friendly and sustainable pub.
Eco friendly pub pollutes canal
However, it now appears that the pub was not as eco friendly or sustainable as first made out. During the last few months, British Waterways have installed a waste water treatment works (cost unknown) to protect the canal from pollution at the insistence of the Scottish Environment Protection Agency.
It is understood, that the pub does not form part of the property portfolio which would transfer to the Canal & River Trust, but would be retained by British Waterways (Scotland) which will continue in public ownership. |
