Race is on to snap up hotel site

02 Feb 2010

by Gordon Thomson, Evening Times

A site earmarked for a new upmarket Glasgow hotel near the banks of the Clyde is expected to be snapped up for millions of pounds.

Global hotel chains and developers are squaring up for a big-money bidding war even though the plot of land is only half the size of a football pitch.

The location between Finnieston Street and the SECC, formerly set aside for a super casino, covers less than half an acre.

But there has been a flood inquiries from rival firms across Britain as well as overseas since SECC bosses, who own the land, made it available on a 175-year lease.

Interest has been generated by the location and the fact that outline planning permission has been granted for a three or four star hotel with 150 bedrooms over 10 floors.

Detailed plans have since been lodged with Glasgow City Council for an extra 29 bedrooms. A neighbouring multi-storey car park with 1600 spaces is also planned.

The hotel will sit next to the proposed £66 million Scottish National Arena being built in time for the Commonwealth Games in 2014.

CB Richard Ellis Scotland has been appointed sole selling agent and has announced that bids must be lodged by February 23.

Director Virginia Beckett said: "This is an outstanding opportunity for a purchaser to step up and deliver a hotel in an enviable location.

"It is within walking distance of both the SECC and the Scottish National Arena as well as being minutes from the heart of the city.

"There has been a number of enquiries from both developers and operators.

"Scottish Development International is also enthusiastic about the site and its potential to attract global interest."

A Scottish Enterprise spokeswoman said: "Alongside our colleagues in SDI, we are actively marketing a number of sites in Glasgow and across Scotland for international hotel development.

"This is a prime location and provides an excellent platform for inward investment deals."

Permission is likely to be granted for a 179-bedroom hotel as long as £23,000 is paid to council chiefs towards the new "Fastlink" bus scheme to boost links with the SECC and Southern General Hospital.

Reproduced with the permission of the Herald and Times Group.

  • Aerial view of the site

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