Tue, 28 Jun 2011 | ADMINISTRATION
The Jumeirah Group's plans to operate a luxury Scottish hotel have encountered problems after the project’s developer fell into administration.
Following legal battles with local retailers over the ownership of the development site, the developers behind the £125 million Jumeirah Glasgow Hotel, BLN Property Developments, filed for administration in May.
The luxury glass-fronted hotel, which was to comprise 160 bedrooms, 85 serviced apartments, swimming pool and a huge ballroom over 26 storeys, was slated for completion this year.
It had been named as the centrepiece of Glasgow’s regeneration and would have welcomed guests arriving in the city for the 2014 Commonwealth Games and the Ryder Cup.
Blair Nimmo, head of restructuring at administrators KPMG , told the Sunday Telegraph, “A six-star hotel would be fantastic for Glasgow, but in the current climate it’s unlikely it’s going to happen.”
A Jumeirah Group spokesperson reported that the firm would continue to keep an eye on the developing situation.
“We are in regular contact with the developers and are monitoring the administration process to determine if the hotel development proceeds,” said the spokesperson.
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This substantial 43-bedroom urban hotel, situated just 5 miles from Newcastle city centre, offers an exceptional investment opportunity with its prime trading location and extensive public areas, including a popular bar and refurbished function room.
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