Flagship bar set to close over escalating costs after £3m renovation

The Rose Street Foundry was transformed pre-pandemic thanks in part to a £1m public grant, but now faces closure amid a huge rise in costs.

Flagship Inverness bar Rose Street Foundry set to close over escalating costs after £3m renovation Google Maps

A flagship Inverness pub is the latest casualty of the bleak state of the economy.

The Rose Street Foundry on Academy Street in Inverness will close next week because of high running costs.

The iconic building run by Aviemore’s ‘Cairngorm Brewery’ secured a £1million public grant to help transform the former foundry and retain many of its original features.

The owners invested even more that amount to transform what was a dilapidated shell of a building.

Sam Faircliff, the managing director of Cairngorm Brewery which has run the venue, said: “It is with a heavy heart that we have taken the decision to close the doors at Rose Street Foundry.

“We purchased the building in 2013 and spent two challenging years carefully restoring the listed building with the support of Inverness Heritage Trust together with our own investment totalling £2.2million.

“Unfortunately, Covid-19 struck just days after opening. And now, like the rest of the industry, we are faced with escalating staff and energy costs and a cost of living crisis that is impacting the people money have to spend on leisure.”

Ms Faircliff said she was devastated for her team, praising them for their hard work.

“I am really proud to have restored a building that is a true gem in the city,” she added.

“Cairngorm Taverns who own the freehold of the building and I will now work tirelessly to find a new tenant for the premises.”

STV News is now on WhatsApp

Get all the latest news from around the country

Follow STV News
Follow STV News on WhatsApp

Scan the QR code on your mobile device for all the latest news from around the country

WhatsApp channel QR Code