Virgin Hotel Glasgow brought to market

Virgin Hotel Glasgow

[Credit: Virgin Hotel Glasgow]

UK: The luxury lifestyle Virgin Hotel Glasgow has been brought to market following the property’s closure four months after opening last year.

The property’s owner, Lloyd Developments, fell into administration in early December. Whilst Virgin Hotels operated the site, its parent company Virgin Group attempted to acquire the site in order to keep it in operation. The offer was not accepted by the lenders.

Savills, on behalf of the joint administrator of Lloyds Developments, is now marketing the hotel at 264 Clyde Street.

The luxury 17-storey hotel overlooks the River Clyde in the centre of Glasgow. It feature 165 bedrooms with capacity for up to 242, a ground floor restaurant and bar, a mezzanine bar and lounge, a flexible terrace area, and conference and meeting space for up to 60 delegates.

Steven Fyfe, director in the hotel capital markets team at Savills Scotland, said: “This is a rare chance for a purchaser to secure a prime asset that has been fitted out to an excellent standard in line with a luxury lifestyle hotel with the possibility of being in an income producing position from day one. S

“Situated in a prime location within Glasgow city centre, the hotel is just a short walk from Glasgow Central Station and Buchanan street, as well as being in close proximity to all of Glasgow’s key demand drivers. Given its excellent credentials, we anticipate a significant level of interest from a global pool of buyers,” he added.

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