Property Investment and Development company Martin Property Group have successfully acquired 246 Clyde Street, Glasgow out of receivership for an undisclosed sum. The luxury 17 storey hotel originally opened with 165 bedrooms in August 2023 as a part completed scheme, prior to its unexpected and sudden closure the following December.
Martin Property Group was represented by property consultants Graham + Sibbald.
Anthony Jackson, Investment Director, Martin Property Group, commented: “the hotel was a perfect fit for our investment and development criteria, Graham + Sibbald’s local knowledge and specialist national hotel expertise played a key part in facilitating the deal.”
Hugh Anderson, Hotel + Leisure Partner, Graham + Sibbald, commented: “the hotel provides a great market opportunity for our client. We look forward to continuing to work with the team on this exciting project.”
Peter Fleming, Investment Director, Graham + Sibbald, added: “Glasgow remains a robust market for investors and it will be great to see the building being used again for its intended purpose. We wish the team at Martin Property Group all the best with the building.”
Martin Property Group is a family run, sophisticated real estate investment and development company, established by Paul Martin and Patrick Martin in 1976 in Northern Ireland and has grown to develop a wide range of projects across the UK and Ireland. The group continues to work across a range of sub-sectors within commercial and residential spheres, including private housing, office, retail, supermarkets, hotels and leisure.
Graham + Sibbald is one of the UK’s leading multi-disciplinary property consultancy services. Starting in Dundee, Scotland in 1959, the firm has continued to expand with a total complement of 21 offices from London to Inverness, over 250 staff, 29 Partners and offering over 20 different service lines. We may have grown but out knowledge is unrivalled, we’re nationwide but local wise.
