Fri, 26 Nov 2021 | COMMERCIAL PROPERTY
The Premier Inn Glasgow hotel has been put on the market, with an £8.5 million guide price. The 278-bedroom hotel is located at Charing Cross railway station, with good access to the M8 motorway, the city centre and Glasgow International Airport.
The hotel also offers connectivity to the city’s Queen Street and Central stations and is well located to gain trade from several nearby drivers of demand, such as OVO Hydro Glasgow and the Scottish Exhibition and Conference Centre.
The hotel is being marketed for sale by Christie & Co as a going concern, free of its current branding. According to the property agent, the hotel represents “a unique opportunity to acquire a long leasehold hotel in Scotland’s largest city".
The property is hitting the market as a result of Premier Inn owner Whitbread moving to reconfigure its portfolio of hotels in the centre of Glasgow. This follows the June 2021 opening of the new 249-bedroom Premier Inn hotel at St Enoch Square.
The sale is being handled by Jeremy Jones, Head of Hotels Brokerage in Christie & Co’s Hospitality division, who commented: “This sale presents a fantastic opportunity to acquire a very well-located hotel in central Glasgow, with a range of asset management opportunities. We anticipate this opportunity will generate high levels of interest from a wide range of buyers.”
One of the best ways to find properties below market price is to look at recent administrations.
The well established business opportunity originally opened its door over 25 years ago, and has been under the current ownership. During that time, they built up an excellent reputation and loyal customer base within the local area.
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