Popular city centre hotel sold by Colliers International
The specialist hotel and licensed property team at Colliers International have completed the sale, at the end of October 2019, of the 52-bedroom Best Western Glasgow City Hotel in Glasgow city centre.
Comprising two Victorian adjoining town houses, originally built in the 1800s, the hotel still features original architectural characteristics of the era, creating an authentic experience for guests. Over time it has also been extended to the rear, providing an excellent cross section style of bedroom accommodation.
The hotel itself is located right in the heart of Glasgow city centre, on Elmbank Street, a prime location for access to Glasgow’s exhibition and entertainment ‘hub’ at the SSE Hydro. Plus, a short walk away from Charing Cross Railway Station, which provides links to Glasgow’s Queen Street mainline station. The M8 is also easily accessible, only a short distance away.
The property has been purchased by Safestay plc who plan to create a 200-bed hostel
Alistair Letham, a Director at Colliers International, said “A lot of good interest from local Glasgow; UK; and overseas was shown in the Best Western Glasgow City Hotel; a recognition on the importance of Glasgow in the hospitality trade. Safestay’s knowledge and reputation of operating quality hostels is renowned and they recognise the excellent and strategic location of the hotel for that purpose.”
Colliers International confirmed that the achieved selling price was close to the asking price of Offers around £3.4 million.