The joint administrators of Lloyds Developments, Geoff Jacobs and Richard Heis of Interpath Advisory, have completed the sale of a former Virgin Hotel in Glasgow to Martin Property Group.
The 240-room hotel, located at 246 Clyde Street, opened in August 2023 but was shut down in December 2023 after its owner, Lloyds Developments, entered administration.
At the time, the hotel operated under a management contract with Virgin Hotels.
Since March 2024, the property has been marketed for sale by Savills. The administrators were appointed in January 2024.
Jacobs said: “The hotel occupies a prime position on the Glasgow riverfront. We look forward to seeing it back in operation and wish the purchaser every success in the future.”
Photo © Savills
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