Glasgow Hilton bought for £35.5m

By Luke Nicholls

- Last updated on GMT

Related tags: Scotland

The hotel is eight miles from Glasgow airport and provides a total of 319 bedrooms with meeting, conference and function facilities
The hotel is eight miles from Glasgow airport and provides a total of 319 bedrooms with meeting, conference and function facilities
Topland, the privately-owned international investment company, has purchased the Hilton Glasgow hotel for £37.5m in cash.

The 319-room hotel, located on William Street, is operated by Hilton Worldwide on a 30-year lease from 2001, producing a turnover-based rent which has consistently exceeded the base rent.

Clive Bush, managing director for operations, said: “The property offers a long term secure income stream and is typical of the type of investments which we are seeking. This is the second time in recent months we have completed a major transaction in four days.”

The hotel was sold by the Royal Bank of Scotland, which completed the transaction within four working days. Topland was advised by Maclay Murray & Spens.

Related topics: Business, Venues, Hotels

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