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Scottish Sun
23-07-2025
- Business
- Scottish Sun
World's oldest & ‘most precious' Scotch whisky to be released
A total of 125 decanters will be released and could fetch hundreds of thousands of pounds each Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) A DISTILLER is to release the world's oldest Scotch single malt whisky later this year. The 85-year-old cask of Glenlivet - distilled in Scotland during World War II - has been emptied and bottled by family business Gordon & MacPhail. Sign up for Scottish Sun newsletter Sign up 3 The 85-year-old cask of Glenlivet has been emptied and bottled 3 The whisky was first laid down on February 3, 1940 The whisky was first laid down on February 3, 1940, by John and George Urquhart, the first and second generation leaders of the Moray-based company. On February 5, 2025, Cask 336 had reached 85-years-old – longer than any other single malt Scotch whisky in history - and the decision was taken to empty the cask. A total of 125 decanters will be released and could fetch hundreds of thousands of pounds each. Stephen Rankin, director of prestige at Gordon & MacPhail, and member of the fourth generation of the family that owns the company, said: "This whisky is truly exceptional due to its remarkable history and unique maturation process. "The influence of the cask, combined with the rarity and scarcity of the liquid, creates a whisky with a strength of 43.7 per cent ABV that is not only extraordinary in its taste but also a living piece of history." Gordon & MacPhail has partnered with acclaimed American architect Jeanne Gang to create a unique decanter to house the "world's most precious whisky to date". Gang said: "I was excited to learn about everything involved in the whisky's creation. Each careful step lends something to a whisky's unique flavour. Then, there are years of protecting the casks so that they can age. "In architecture, these elements of materiality and time also play a critical role in the design process. "Both are about creating something enduring, so this is what I found inspiring about this opportunity to design a decanter for Gordon & MacPhail's 85-year-old single malt whisky." Gang's decanter, themed around 'Artistry in Oak', will be revealed in October and the first decanter will be auctioned by Christie's New York in November. Inside massive whisky festival where dram fans can try tipples worth more than £300 Auction proceeds will be donated to the oldest national non-profit conservation organisation in the United States, American Forests, a leader in forest restoration. Mr Rankin added: "Given the importance of oak in our craft, this partnership was a natural fit, aligning with our mission to leave a meaningful legacy for ongoing generations, via fundraising for the sustainable future of American oak trees." In 2023 a decanter of the previous world's oldest single malt whisky fetched nearly half a million pounds at auction The Macallan "The Reach" 81-year-old was sold to an anonymous online bidder for £488,500 at Sotheby's in Hong Kong.
The Herald Scotland
09-07-2025
- Business
- The Herald Scotland
Springfield predicts surge in demand for homes in Highlands
The company boosted its balance sheet in February by selling a portfolio of sites that it said were primarily located across Central Scotland for £64m to giant rival Barratt Redrow. Springield said then that the proceeds from the land sale would be used to reduce the company's bank debt and 'capitalise on the significant growth opportunities emerging in the North of Scotland'. In an update on trading in the year to May 31 issued yesterday, Moray-based Springfield underlined its confidence in the wisdom of that judgement. READ MORE: As Chevron closes Aberdeen office, what now for North Sea jobs? The company said: 'Springfield's strategic focus going forward is on the North of Scotland where the Board believes substantial opportunities exist driven by incoming UK Government-financed net zero infrastructure development. 'The net zero infrastructure development will require new housing for the thousands of additional workers that are needed to deliver and operate the projects as well as the long-term growth in population as a result of the economic stimulus to the region.' Springfield's chief executive Innes Smith reckons the development of net zero infrastructure is well underway in the area the company is targeting. Springfield is working with the infrastructure providers, the Scottish Government and the Highland and Moray councils to address the need for housing. The net zero investment does not appear to have allowed Springfield to outperform the market in recent months, amid concerns about the outlook for the broader economy. The company said: 'In private housing … sales during the year continued to be impacted by subdued market conditions.' The group's portfolio includes the Dawn Homes, Walker Group, Tulloch Homes and Mactaggart & Mickel businesses, which it has acquired in the last seven years. READ MORE: Scale of SNP Government climate change failings underlined by experts Springfield highlighted apparent caution on the part of existing homeowners, who may be less eager to complete deals that first time buyers. The company noted: 'The Group experienced a lengthening of the sales cycle, particularly from existing homeowner buyers. Therefore, while reservation rates have remained steady, private housing completions have been slightly lower than anticipated.' Pressure on private home sales has been offset by an increase in affordable housing revenues accompanied by a significant improvement in the related gross profit margin. Springfield said the margin returned to double digits. On its website, Springfield says its Partnerships division works with councils, housing associations, and registered social landlords across Scotland. In the update the company said the improvement in gross margin was primarily due to it having completed its low-margin legacy contracts at the end of the preceding year. The contracts delivered in the latest financial year were agreed on 'much stronger commercial terms'. READ MORE: Shoppers flock to Sainsbury's amid supermarket price wars The land sale deal agreed with Barratt Redrow also provided a boost to profits. Springfield told investors: 'The Group's land sales were highly profitable and, as a result, the Group expects to report a substantial increase in profit before tax for the year, in line with current market expectations.' The group said it is in talks about other potential land sales without providing details. Springfield expects to be able to use the proceeds of the deal agreed with Barratt Redrow to fund investment in its preferred areas and to be able to clear its bank debt. The deal covered the sale of six sites, five of which have completed. The sale of the sixth site is expected to complete in coming weeks. The group reduced bank debt to £21m at the end of the latest year, from £39.9m at the end of the preceding period. In the year to May 31 2024 Springfield made £9.7m profit before tax on sales of £267m. Springfield is still active in the central belt market. It is working with Barratt Redrow on plans for a big development near Stirling under a deal agreed in June last year. Figures from Halifax suggest the Scottish market has been in better shape than much of the UK in recent months. On Monday the latest house price index from the lender showed the average house price rose by 4.9% in Scotland in the year to June 30, to £214,891. The average price rose by 2.6% across the UK, to £296,665. In a first quarter trading update issued in April, Barratt Redrow said it had delivered a solid private reservation performance. The company said: 'The fundamentals for our industry remain strong, with a clear need for new homes across all tenures and a national focus on accelerating delivery.' Barratt Redrow will publish its next trading update on July 17. Shares in Springfield Properties closed up 2.5p, at 103p, on the main market of the London Stock Exchange.
Press and Journal
16-05-2025
- Business
- Press and Journal
Major Highland landowner Anders Holch Povlsen sees wealth soar by almost £1 billion
A list of Scotland's richest people shows major Highlands landowner Anders Holch Povlsen has grown his net worth by almost £1 billion in the past year. The new Sunday Times Rich List 2025 reveals he has retained his position as Scotland's richest person. Meanwhile, media and television personality Georgia Toffolo is ranked as the wealthiest person in Scotland under 40, after marrying Brewdog co-founder James Watt earlier this year. The top entrepreneurs from the Highlands, Moray and Aberdeen have been unveiled ahead of Sunday's magazine which will list the 350 richest in the UK. Fashion billionare Anders Holch Povlsen is Scotland's largest private landowner, owning more than 220,000 acres of land – including a dozen of Highland estates. He remains Scotland's wealthiest man with a fortune of £7.7bn. His home, Aldourie Castle, sits on the shores of Loch Ness. Anders' Highland company Wildland Limited posted pre-tax losses of £8.1 million for the year ending July 31 2024. His wealth stems from the Danish fashion retailer Bestseller, founded by his father, Troels Holch Povlsen, in 1975. Anders, 52, is now chief executive and sole owner of the business. He also has a stake in the struggling fast-fashion outfit Asos. He is the 23rd richest person in the UK. Chairman of Moray-based distiller William Grant and Sons, Glenn Gordon is the second richest person in Scotland. The family firm owns brands including Glenfiddich and Grant's whisky, Drambuie, Hendrick's gin and Sailor Jerry rum. The Glenfiddich chief has seen a £779m rise of net worth in the past 12 months. Aberdeen oil tycoon Sir Ian Wood has seen a slight rise to his fortunes in the past year. The third wealthiest in Scotland, 80-year-old Sir Ian was born in Aberdeen and is behind Granite City firm Wood, which is currently subject to a takeover bid. This year, the billionaire picked up the 2025 Significant Contribution Award at the Offshore Achievement Awards (OAAs). Lord Laidlaw is a Keith-born businessman and a former member of the House of Lords who has seen his wealth drop by £11m in the past year. The founder of the Institute for International Research (IIR), which became the world's largest conference and training company. He sold the firm in 2005 for around £770m to Informa Plc and is the 10th wealthiest person on the Sunday Times Scottish list. Georgia Toffolo ranked as the wealthiest person under the age of 40 in Scotland. The reality TV star has seen her net worth soar as the list values hers, and her husband James Watt, wealth as a couple The number of billionaires has dropped for three successive years and now sits at 156. The list of 350 individuals hold a combined wealth of £772.8bn – down by 3% in the 37th edition. Sunday Times Rich List compiler Robert Watts said: 'Our billionaire count is down and the combined wealth of those who feature in our research is falling. 'We are also finding fewer of the world's super rich are coming to live in the UK. 'Homegrown young tech entrepreneurs and those running centuries-old family firms are also warning of serious consequences to a range of tax changes unveiled in last October's budget. 'Our research continues to find a wide variety of self-made entrepreneurs building fortunes not just from artificial intelligence, video games and new technologies but also mundane, everyday items such as makeup, radiators and jogging bottoms.'
