The Premier Inn Glasgow City Centre has been put on the market on a going concern basis with a guide price of £8.5m.
Christie and Co, a specialist business property advisor, has been instructed to market the hotel “free and clear of the current branding”. It said this presents “a unique opportunity” to acquire a long leasehold hotel in Scotland’s largest city.
Meanwhile, the sale comes as Whitbread, the owners of the Premier Inn hotel, is reconfiguring its network of hotels in Glasgow City Centre, following the opening of the 249-bedroom Premier Inn and Bar and Block restaurant at St Enoch Square in June 2021.
The 278-bedroom hotel is located off the M8 motorway by Glasgow’s Charing Cross railway station, with connections to Glasgow Queen Street and Central stations and Glasgow International Airport.
Additionally, the property is located near the Scottish Exhibition and Conference Centre (SECC), OVO Hydro Glasgow (Scotland’s premier music and entertainment venue) and the main business and leisure hub of Glasgow.
Jeremy Jones, head of Hotels Brokerage of Christie and Co’s Hospitality team, said: “This sale presents a fantastic opportunity to acquire a very well-located hotel in central Glasgow, with a range of asset management opportunities. We anticipate this opportunity will generate high levels of interest from a wide range of buyers.”