Savills, on the instruction of of Geoff Jacobs and Blair Nimmo of Interpath Advisory as joint administrators of Lloyds Developments Ltd, has brought to market the heritable (freehold) interest of the Virgin Hotel Glasgow at 264 Clyde Street.
The luxury hotel comprises a 17 storey-building overlooking the River Clyde in the heart of Glasgow city centre. Features include 165 completed 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.
The hotel also provides the potential for further development, with the opportunity to complete the remaining 77 bedrooms, along with public spaces such as a proposed gym, function suite, whisky bar and coffee shop.
Steven Fyfe, director in the hotel capital markets team at Savills Scotland, comments: “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. 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 it’s excellent credentials, we anticipate a significant level of interest from a global pool of buyers.”