RBS non-core asset sale continues with Glasgow City Hilton


The Royal Bank of Scotland has continued with its "non-core" asset disposal programme, with Glasgow's 20-storey Hilton hotel becoming the latest property to be offloaded.

The five-star Glasgow City Hilton - which dominates the skyline in the Anderson section of the city - was sold for £35.7 million to the property firm, the Topland Group. The sale of the 300-bedroom hotel comes just weeks after the company sold another of the city's Hiltons, the Hilton Grosvenor, for some £10 million.

The two hotels were part of the portfolio that had originally been bought up by the struggling bank in 2001, in a sale-and-leaseback deal worth some £312 million.

The sale of the two properties is part of the broad strategic recovery plan being worked through by the company, spearheaded by chief executive, Stephen Hester. Since 2009, the company has been able to reduce its portfolio of non-core assets by £145 billion.

Clive Bush, the managing director of operations at Topland, said, "The property offers a long-term secure income stream and is typical of the type of investments which we are seeking."

The City Hilton has hosted some of the highest profile visitors in the city, due to its prestigious position. Former US President, Bill Clinton has stayed there, as well as boxer, Mike Tyson, who booked up 150 rooms there in 2000 in the run up to a nearby prize fight.

Share this article

Latest Businesses for Sale

Stockist & Supplier of Pipeline Products
North West, UK

Serves both sole traders and blue-chip organisations throughout the UK and internationally. Products include, but are not limited to, valves, tubes, steam equipment, strainers, filters, flanges and thermometers. Offers bespoke process products to mat...

Asking Price: Offers Invited
Turnover: £3,700,000


Draught Beer & Associated Dispensing Equipment Manufacturer & Supplier
UK Wide

Specialist in-house expertise in the design and development of a range of innovative beer dispensing equipment. Predominantly provides services to high-value, blue-chip clients in the brewing industry. Long-standing relationships with several prestig...

Asking Price: Offers Invited
Turnover: £4,000,000


Wood Fuel Processing & Renewable Energy Hub
South of England, UK Wide

Specialises in low-carbon energy generation and biomass fuels including wood-fuel drying and processing, renewable electricity generation and on-site wood pellet production for the wholesale and industrial markets. Offers invited.

Asking Price: Offers Invited
Turnover: £1,100,000


View more businesses for sale

News Search

Latest News


Digital account provider snapped up by Morses Club | BUSINESS SALE

Sheffield-based U Holdings Limited, which trades under the n...


Property business merger creates £400 million company | MERGER

A housing specialist that works on new and refurbished premi...


Prescription start-up acquired by healthcare giant for undisclosed sum | BUSINESS SALE

A UK start-up company that helps individuals manage their su...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide


Related News


Fintech company Loot collapses into administration | ADMINISTRATION

After failing to secure further backing from the Royal Bank ...


Tech-enabled lockers firm Bybox undertakes an MBO | MBO/MBI

ByBox, the Oxfordshire business behind a network of unmanned...


Leeds hotel developer enters administration | ADMINISTRATION

A hotel developer that was creating a landmark £32 mil...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources