The Boston Globe is reporting that the legendary Doyle’s in Jamaica Plain plans to close its doors and sell its liquor license to Davio’s. The landmark pub opened on Washington Street back in 1882.
The Globe goes on to report that a purchase and sale agreement was filed with the City of Boston back in August and shows that Davio’s plans to buy the seven-day, all-alcohol license currently owned by Doyle’s. Davio’s will not doubt be using it for the new 15,000-square-foot restaurant in the Seaport. According to the agreement, Davio’s would buy the license for $455,000. Holy Moly!
Many Boston businesses have gone this way; the property that it sits on/and or it’s liquor license is more valuable than the businesses itself.
Back in January, it was reported that South Boston’s iconic Amrhein’s was under agreement for $18 million.