March Monthly Round up for the Whisky Drinker

March brought a mix of cautionary tales and celebration to the whisky world. A BBC documentary shone a spotlight on fraudulent cask investment schemes, reminding whisky lovers to approach high-return promises with skepticism and due diligence. We weighed in on the risks and rewards of cask ownership, highlighting that enjoyment, not profit, should be the main motivation. Elsewhere, distilleries celebrated milestones, new releases hit the shelves, and whisky fans marked key calendar events like International Whisk(e)y Day and St Patrick’s Day. Distillery visits to Rosebank and Ad Gefrin added a personal flavour, while business news revealed both growth and growing pains across the industry.

Whisky Highlights

The BBC ran a documentary, available on iPlayer, investigating the world of fraudulent whisky investments. Apparently, the police are investigating three companies over fraud allegations with investments running into several million pounds. The first thing to remember with any investment is, “is it too good to be true”. Returns of 13% and above were indicated. Is that a reasonable estimate of return on a cask? The answer, except possibly for a handful of distilleries, is no. The Cask Connoisseur has never yet invested in a cask but has 2 or 3 bottles bought in the 1990’s for around £60-70. According to auction sites they might now be worth £1000+, if in good condition and with the original packaging, so taking the final amount to be around £1000 and playing with the spreadsheet below, the average rate of return over 30 years has been 10%annually. 

These bottles represent the best performing bottles over that period. Even during the “boom years” from 2018 to 2022 the average return on bottles bought for taste, not for investment, was lower than 10% per year. Yes, there were some “stellar” performers, but they were in the minority, and the price has since collapsed. What does this tell you? 13% returns are unlikely except in a few rare cases and the chances are, someone who is in the know, has already bought the cask that might be worth something in a few years. 

So why buy a cask? If for an individual it should simply be for the enjoyment, experience, or to help support your favourite new distillery. Even then you might prefer to do it as a “cask share” with a group of friends. For businesses things are slightly different as the cask can be used for promotional purposes and can save costs overall. In our February Newsletter we referenced an excellent blog on the “actual” cost of a cask and some of the issues.

10 points to consider before buying a cask: 

1. Those casks that are likely to provide a healthy return already have some of that return priced into their cost. Why? Because a lot of people are after them so the price increases.
2. The cost of a cask of new make spirit from a new distillery (or even an established distillery) rarely reflects the actual production costs plus a “reasonable profit”, most of the costs of production are incurred in the distillation process. Warehousing is negligible on a per bottle basis. So why might you pay £5000 or more for a cask of new make spirit? Because others are prepared to pay it. And you’re financing the building and running costs of the distillery whilst it waits for its stocks to mature. Even so, comparing topotential retail price, you might save 20-30% on the cost of a bottle. But you will need to drink a few hundred bottles or be able to sell them on. 
3. A rule of thumb is that the actual cost of a cask of whisky when bottled is twice the price you paid for it. Will you have the spare cash?
4. Most casks will be “average” at best, so expecting to get a “dream cask” is unlikely. You could wait until the cask has spent some time maturing, which should give you an indication of the eventual outcome, but you will pay more. 
5. It is impossible to know the exact outcome of a cask of new make.
6. Bottles of single cask whisky do make a premium over distillery core ranges but remember that single casks make up a few percent of the overall whisky market. Why? Because few casks are “good enough”.
7. Like all markets, the whisky market follows fashions and fashions change. Can you predict the fashion in 10+ years?
8. Really do your research.
9. Only invest what you can afford to potentially lose. 
10. Even when purchasing through a legitimate business, you can still lose your cask. An obvious one, is a cask failure and all the whisky is lost, and then you find someone forgot to renew the insurance. Human error does occur. 

Clearly purchasing a cask is not for everyone and despite the gloomy messaging above, The Cask Connoisseur is looking at buying a cask of new make. But importantly it is not for investment purposes but for the enjoyment and experience of being a cask owner and seeing how the spirit develops. After several years of looking, we think we’ve identified the distillery and are currently waiting for the right cask to become available. Our criteria include location, geography/geology, and “house style” helping us to identify what the spirit might turn out to be. Will we make a profit? No idea as we do not have a crystal ball, but we’re somewhat confident that we will at least get our money back, either from enjoying the journey, learning more about the process, and hopefully a nice bottle or two at the end. If you want to invest in a cask, make sure you do your research, due diligence and be cautious. There is no reason why you can’t use abroker for your needs but make sure you carry out due diligence on them. You might want to look at our recent blog post on how to avoid whisky investment scams. Remember that any investment can go up and down. All of which takes time, rather like good whisky. 

Keeping the gloomy outlook, did anyone notice International Whisk(e)y day on March 27^th? Set to commemorate the birthday of Michael Jackson the legendary whisky writer who died in 2007. Perhaps World Whisky Day will be more prominent on the third Saturday of May?

Other celebratory days in the whisky calendar this month were St Patrick’s day for Irish whiskey and  International Women’s Day where several distilleries highlighted the women who work for them such as Glengoyne and Lindores who released The Sister Spirit. Then of course there was Mother’s Day in the UK although that seemed more to suggest buy a bottle of gin than a bottle of whisky.  Malts.com did provide a selection of Diageo’s malts for the “spirited women” on Mother’s Day. 

But on a brighter note, March was a good month for distillery visits including a trip to Rosebankat the start of the month. A worthwhile pilgrimage to explore Rosebank’s past glory and where it might now be heading.  The month finished with a visit to Ad Gefrin, yet to release it’s first whisky but already a great favourite of The Cask Connoisseur. The day was to celebrate the release of the third edition of their Corenkyn blended whisky, only available to their Corenkyn members. This whisky celebrates Ad Gefrin’s connection to the Anglo-Saxon world as well as the difference between various cask finishes. A lovely day out involving three of The Cask Connoisseur’s passions – whisky, history and food. 

Whisky Business

The Irish Whiskey Association published its latest report “Irish Whiskey in Numbers” for 2024. The numbers reflect a more buoyant industry than Scotch although both are at different stages of the business cycle. Clearly there have been successes in the export market and tourism, as with Scotch tourism plays a large part in the success. There are 50 Irish distilleries of which 28 provide tours open to the public. 

Despite the above positive report on Irish Whiskey, Irish Distillers confirmed that their Middleton Distillery would “temporarily pause production”. Kind of a similar story to Glenglassaugh?

Compass Box appoints new CEO – Nishat Gupte – with the company saying this will mean a “new era of agility and focused execution”.

The Glasgow Distillery Co celebrates the 10^th anniversary of their first ever cask being filled. 

Strike action is threatened by employees at Inver House Distillers the owners of Balblair, Balmenach, Knockdhu, Old Pulteney and Speyburn distilleries. The issue is over the level of a pay rise. 

Glenmorangie increase the age of their sherry-finished expression Lasanta from 12 to 15 years. This is said to introduce even more complex and elegant notes – a balance of raisins and honey, toffee, clove and cinnamon.

Rosebank wins the Architectural Excellence Award at the Scottish Property Awards 2025.

Ardgowan Distillery starts production this month.

Whisky auctions appear to have stabilised at least in price and buyers seem to favour genuine scarcity and long maturation along with praise amongst other whisky drinkers. 

An interesting offer from Annandale Distillery was to purchase one of their 10 year old casks and continue the maturation for a further decade so you’ll be amongst the first to own 20 year old Annadale. 20 casks were available at £10,000. 

The Competitions and Marketing Authority has approved the sale of Famous Grouse to William Grant & Sons.

Highland Park reopens to visitors. Offering six distillery experiences ranging from the “Welcome Experience at £30 to the “Orkney Insider Experience” at £650 which offers some really exceptional whisky. 

Want the “ultimate” blending experience and have at least a spare £50,000? Then the Johnnie Walker Vault at the Johnnie Walker Experience in Edinburgh might just be for you. 

You have a new bottle of whisky to sell, do you go for a physical store with limited space or online? Unsurprisingly both must be considered as they attract different consumers. It might be easier to get listed on an online site since they effectively have “unlimited space”, but you need to compliment it with your own website to help build brand loyalty. However, if your whisky is retailing at north of £100 then you should aim down the physical retailer route. Apparently, those consumers willing to spend more than £100 prefer to handle the product and receive advice at the point of sale. 

Kingsbarns Distillery is another new(ish) distillery to mark its tenth anniversary this month and also unveils new storage facilities which will be capable of housing 57,000 casks.

And yet another tenth anniversary, Rare Find independent bottler and part of Gleann Mór Spirits Company releases four bottles to mark its decade long journey.  You can find more information on Rare Find here and on Gleann Mór here. 

Whisky Releases

What constitutes a new release? A seemingly simple question but as one delves deeper actually becomes more complicated, particularly if one starts questioning the relevance. To list all the months “releases” would take up pages and pages as on average there will be around 1500 if it were individual bottlings. So, what constitutes relevance:

• Is there any point in listing bottles that will be “sold out” by the time the newsletter is written? 
• Should bottles which are only privately available be listed?
• Bottles that are “shop” exclusives or are part of a ballot system?  
• Is it available in the UK?
• Releases consisting of only two or three bottles? Or for that matter clearly only partial casks particularly when sold as “Single Cask”?

These are just a few considerations. There are around 300 distilleries (see our 2024 Whisky Index) producing whisky in the UK and 130+ independent bottlers. Our aim is to highlight a few interesting releases, products from new distilleries you might not know about,  distillery milestones and some good bottles we might be prepared to recommend. 

Glen Grant release a 65 year old, 1 of 151 decanters for £39,000 the first edition of their Splendours Collection. Made from a single French oak butt and distilled in 1958 the whisky is said to retain the distinct and singular character of the Glen Grant. Certainly, the decanter design caught our eye. It is spectacular and definitely “top shelf”. 

Douglas Laing release an  XOP Tamdhu 25 Years Old, 51% ABV, £315, 1 of 274 bottles. Drawn from a refill ex-hogshead cask the colour is as one might expect but much lighter than other Tamdhu’s. The palate is said to be “Bursting with tropical fruits and delicate barley sweetness, balanced with a refined oak character”. 

Doghouse Distillery based in London releases its first “bourbon style” whisky, Debt Collector, 50% ABV, £49.95. Made with a mash of 75% corn with malted barley and rye, the palate is typically bourbon with notes of vanilla, caramel and warming spices on the palate.

Bushmills releases the worlds oldest Irish single malt, Bushmills 46 Year Old Secrets of the River Bush, 46.3% ABV, ~£10,000, 1 of 300 bottles. Looks lovely in the pictures but already sold out on the Bushmills website but currently available elsewhere at a premium. 

Ardnahoe release Bholsa, 50% ABV, £60. Matured predominantly in oloroso sherry casks it is said to have “Rich notes of peat smoked raisins soaked in oloroso, orange zest and walnuts greet the nose, complemented by ripe plums, dates, and Islay peat on the palate with a lasting peppery finish.” Our own tasting somewhat agrees although we’d go for dates over plums on the palate and the peat as being present but certainly not overwhelming. Pricing is about right in our opinion so do not get overly enthusiastic, but it is a very drinkable dram. 

Cadenheads have their next Authentic release of eight cask strength whiskies. The star of the show at least in popularity would be the Longrow 9 year old (56.3% ABV, £65) which is already sold out, although our favourite based on the descriptions would be the Benrinnes 18 year old(52.2% ABV, £80). Cadenheads frequently offer good whisky at reasonable prices. 

Kilchoman release the first ever ten year old Loch Gorm. Matured exclusively in oloroso sherry casks the whisky exhibits notes of “heavy sherry, spicy dark chocolate, rich fruits and burnt sugar. This balances beautifully with the Kilchoman peat smoke and citrus fruits found within our farm crafted spirit.” A release of 18,000 bottles, 46% ABV and costing around £83.

Johnnie Walker release Black Ruby (40% ABV , £37). Rather liked the marketing quote, “ Johnnie Walker Black Ruby redefines luxury with whisky matured in first-use red wine casks from Roseisle Distillery, crafting a sweeter, fruitier profile that tantalises the senses.”

White Peaks Distillery released Wireworks Port Wine LBV, 53.3% ABV, £75, 1 of 1293 bottles. A dual maturation of lightly peated spirit in ex-bourbon casks finished in Late Bottled Vintage  port Barriques. This is the first time the distillery has used LBV and maturation is said to impart vibrant, fruity-sweet notes and complexity to the maturing whisky.

The English Distillery releases their first Triple Distilled, 58.9% ABV, £95, 1 of 211 bottles. Part of their Single Cask range the whisky ahs spent over 10 years maturing in “super first-fill American casks, this delicate, refined whisky has wonderful notes of vanilla and chocolate. Ideal pre-dinner where the gentleness of this whisky can really be appreciated.” All of which sounds rather fascinating. 

Not a new release but Ardbeg Ten (10 year old, 46% ABV, £51) is now 25 years old. Said to be the cornerstone and benchmark of all that is done at the distillery, with unrivalled complexity, with the perfect balance of sweet and smoke.

Lochlea Distillery releases its final seasonal release Ploughing Edition Third Crop (46% ABV, £51). Said to be the smokiest whisky Lochlea has released to date having been matured in ex-Islay casks. It showcases the distillery’s signature fruit and cereal-forward spirit with a peated twist, displaying notes of green apple, toffee, malted biscuits, and smoke.

Saltire Rare Malt will launch its first anniversary bottling in May: a 14-year-old Linkwood(54.1% ABV, £160, 1 of 74 bottles) distilled in 2011. The celebratory bottling has been aged in a refill American oak ex-Bourbon cask and finished in a ruby port wine barrique. It is said to have “A beautiful nose. This is what you want from a Linkwood: nice, sweet and fruity; think strawberry candies as a top note. Then, cigar boxes and sugar-coated oranges with cotton candy. The ruby port wine vintage barrique added extra layers of fruit upon fruit. Simply a lovely, fruity dram with a smooth but full body.”

Lady of the Glen has their first outrun of 2025. Consisting of a Craigellachie 12yo, Benrinnes 13yo, Caol Ila 11yo, Teaninich 10yo and their blended whisky St Bridget’s Kirk Solera Batch 4. The Teaninich is possibly the most interesting as it is rarely bottled as a single malt usually being used in Diageo blends. Another interesting fact is the distillery does not have a mash tun. 

Interestingly this outrun will not be available to buy from the Lady of the Glen website but a full list of stockists is available here.

Gordon & MacPhail have “made” three bottles from their Private Collection 1977 from Clynelish Distillery. Yes, you read it right three bottles. The 47 year old was matured in a Refill American Hogshead, Cask 2069 which produced 96 bottles with a  45.5% ABV and priced at £3100.

Glenrothes releases The 51 with the unusual concept that you can only see the bottle after breaking the packaging with a bespoke hammer. Indeed, this seemed to be taken even further with no reference to the ABV. So, all we can tell you is it will be one of 100 bottles, is the oldest Glenrothes ever released and will cost you £37,000. And if you do break the packaging, send it back to Glenrothes who will create a bespoke vase from the shards. 

The Lakes Distillery unveils its first permanent single malt – Signature (47% ABV, £85). “Matured in the finest European and American oak Oloroso and PX sherry casks, this indulgent whisky is a distinguished, multi-layered single malt with a distinctive, lingering finish. An indulgent whisky, rich with refined layers of depth and complexity.”

The World Whiskies Awards arrive each March and 2025 was no different:

• Glenallachie 12 was voted World’s Best Single Malt.
• Nc’nean received an Icon’s of Whisky award – Global Sustainable Distillery of the Year.
• Holyrood received an Icon’s of Whisky award – Global Distillery of the Year.
• Great Drams’ Campbeltown Blended Malt Scotch Whisky was voted World’s Best Blended Malt.
• Tomatin’s cooper Alan Bartlett received Coopper of the Year in the Icon’s of Whisky awards.
• The Heart Cut were voted best Independent bottlers in the world for the second year running. 
  • You can look at the full results list here.

Annandale Distillery release their first 10 year old whiskies, Man O’ Words 10 Year Old Cask 125

Fresh ex-Bourbon (£110, 58.5% ABV, 1 of 234 bottles), Man O’ Sword 10 Year Old Cask 69Fresh ex-Bourbon (£110, 57.9% ABV, 1 of 224 bottles). 

Woven Whisky release what is believed to be the first blended English whisky Experience N.22// Pastures New (£55, 49.1% ABV, 1 of 714 bottles). Made from six distilleries to include;Cotswolds Distillery, White Peak, Cooper King Distillery, Copper Rivet, Fielden and Adnams Distilleries.

Upcoming Whisky Events

Those without full dates (at the end of the list), have occurred in 2023/24 without releasing 2025 dates at present. For full details just type the name into Google. 

• 5^th April 2025 – National Whisky Festival, Glasgow
• 11^th – 12^th April 2025 – Welcome to Whisky Show, London
• 12^th April 2025 – Clackmannanshire’s Whisky Festival, Alloa
• 26^th April 2025 – Whisky Social Belfast, Belfast
• 30^th April – 5^th May 2025 – Spirit of Speyside
• 10^th May 2025 – Stirling Whisky Festival
• 17^th May 2025 – Summerton Whisky Festival St Albans
• 16^th – 17^th May 2025 – Whiskey Live Dublin
• 18^th May 2025 – The Whisky Event, London
• 19^th – 24^th May 2025 – Campbeltown Whisky Festival
• 23^rd – 31 May 2025 – Fèis Ìle, Islay
• 30^th May – 3^rd June – Spirit of Speyside
• 14th – 15th June 2025 – Bladnoch Wave Weekend
• 27^th – 29^th June 2025 – Arran Whisky Festival, Arran
• 28^th June 2025 – The Whisky Lounge: Bristol Whisky Festival
• 4^th July 2025 – Southport Summer Whisky Festival, Churchtown & Southport
• 5^th July 2025 – National Whisky Festival, Inverness
• 18^th – 26^th July 2025 – Belfast Whisky Week, Belfast
• 6^th August 2025 – Spirit of Alba Festival, Kirkintilloch
• 8^th – 10^th August 2025 – Whisky Fringe Edinburgh
• 16^th August 2025 – Linlithgow Whisky Festival  (Falkirk Whisky Club)
• 30^th August 2025 – Spirit of Alba, Kirkintilloch 
• 5^th September 2025 – Cadenhead’s in the Courtyard, Campbeltown
• 4^th – 14^th September 2025 – Hebridean Whisky Festival
• 12^th – 13^th September 2025 – Whisky Indy Love Fest, Newcastle upon Tyne
• 13^th September 2025 –  National Whisky Festival, Aberdeen
• 13^th – 14^th September 2025 – Midland Whisky Festival, Birmingham
• 19^th -22^nd 2025 – Lagavulin Islay Jazz Festival
• 20^th September 2025 – Lomond & Clyde Whisky Festival, Helensburgh
• 27^th September 2025 – The Whisky Lounge: Liverpool Whisky Festival
• 3-5^th October 2025 – Whisky Show, London
• 11^th October 2025 – Edinburgh’s Whisky Festival
• 18^th October 2025 – Wee Dram Whisky Festival, Dram Fest, Bakewell
• 18^th October 2025 – Seven Hills Whisky Festival, Sheffield
• 24- 26^th October 2025 – Dornoch Whisky Festival
• 25^th October 2025 – The Whisky Lounge, York Whisky Festival
• 25^th October 2025 – National Whisky Festival, Edinburgh
• 31^st October to 2^nd November 2025 – Wales Whisky Fest, Llandudno
• 8^th November 2025 – Glasgow’s Whisky Festival
• 21^st November 2025 – The Whisky Lounge: Manchester Whisky Festival
• 22^nd November 2025 – English Whisky Festival, Birmingham
• 29^th November 2025 – T B Watson (Drambusters) Whisky Festival, Dumfries
• 5^th – 6^th December 2025 – Kendal Whisky Festival

June

• The Whisky Lounge: Edinburgh Whisky Festival
• Stoke Whisky Festival – Stoke on Trent – possibly in 2026

August

• The Dram Good Whisky Festival, Edinburgh

October

• Borderlands Whisky Festival, Lockerbie

November

• Leeds Whisky Festival
• The World Whisky Experience, Spitalfields, London

January

• Harrow Whisky Festival 
• Southport Whisky Festival (Winter)
• Scottish National Whisky Festival, Glasgow

February

• Exploring Whisky: Bristol
• Fife Whisky Festival, various locations in Fife.

March

• Whisky Birmingham, Birmingham
• Croydon Whisky Festival 
• Independent Spirits Whisky Festival, Leith, Edinburgh
• Whisky Fair – Cambridge 
• Whisky Live London
• The Whisky Lounge: Newcastle Whisky Festival

Background – Here at The Cask Connoisseur, even though we’re not subscribed to every potential newsletter or source of information, we receive around four hundred emails over the course of a month with various promotions, new release information, distillery newsletter,updates etc. Add on social media posts and that amounts to somewhere well over 1000 pieces of information being reviewed per month. The aim of this monthly round up is to provide a summary of the most interesting bits along with upcoming events that can be gleaned from them. The downside to a monthly review is a lot of “special offers” will have come and gone.