Martin Property Group, real estate investment and development company which operates throughout the UK & Ireland, established in 1976 in Northern Ireland specializes in property development, land acquisitions, joint ventures, properties investments, in house architecture & design has completed the acquisition of the former Virgin Hotels Glasgow in Scotland for an undisclosed sum supported by Property Consultant Graham + Sibbald in the deal.
This polished hotel is situated in Glasgow, port city in Scotland's western Lowlands along Clyde Street, across the road from the River Clyde, 8 minutes away on foor from Glasgow Central train station and an 11 - minute walk from George Square, with an easy access to the city centre.
This 17 - storey luxury hotel opened its doors in August 2023 featuring 165 rooms and a capacity for up 242 and it closed the following December when the property's former owner Lloyd Development Limited, fell into administration.
The Investment Director for Martin Property Group Anthony Jackson said that the hotel was perfect fit for the company's investment and development criteria, Graham + Sibbald's knowledge and specialist national hotel expertise played a key part in facilitating the deal and Martin Property Group intends completing the hotel and reopening it as soon as possible.
The hotel and leisure partner, Graham + Sibbald Hugh Anderson commented that the Virgin Hotels provides a great market opportunity for the company's clients and the group is looking forward to continuing to work with the team to ensure a successful completion and reopening.
The
Investment Directoe of Graham + Sibbald, Peter Fleming declared that Glasgow
remains a robust market for investors and it will be great to see the building
being used again for its intended purpose, wishing the Martin Property Group
all the best with the reopening of the hotel.
Link - https://boutiquehotelnews.com/finance-and-investment/martin-property-group-virgin-glasgow/
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