The joint administrators of Lloyds Developments Limited, Geoff Jacobs and Richard Heis from Interpath, are pleased to confirm that following an extensive marketing process (supported by Savills), they have completed a sale of the hotel located at 246 Clyde Street in Glasgow to a Martin Property Group entity.
The 17-storey hotel, which overlooks the River Clyde, comprises 240 guest bedrooms (165 of which are completed), in addition to a ground floor restaurant and bar, mezzanine bar and lounge, terrace area, and conference and meeting facilities.
Geoff Jacobs, managing director at Interpath and joint administrator of Lloyds Developments Limited, said: “The hotel occupies a prime position on the Glasgow riverfront. We look forward to seeing the hotel back in operation and wish the purchaser every success in the future."
The sale comes on the back of a successful twelve months for Interpath’s specialist real estate team, which was proud to lead on over £1.2 billion of transactions in the real estate sector over 2024, including advising PK2 on its divestment of a development park; the sale of Bradstowe House, a property based in Harrow housing 177 rented luxury flats, to a third-party real estate investment company; and the sale of The Square shopping centre in Dublin. In Scotland, Interpath is engaged on activity working with stakeholders across a number of subsectors stretching from retail, including the East Kilbride Shopping Centre, through to residential property developers and various commercial properties.
