Beardmore bought by ADIC
Glasgow's Beardmore hotel, part of the Health Care International medical centre, has been taken over by an investment and merchant banking company from the Middle East.
Abu Dhabi Investment Company (ADIC) acquired a lease on the property from receivers Arthur Andersen last week. The freehold is still in receivership.
The exact sum paid for the medical centre was not revealed although the money is believed to have come out of a £20m pot set aside by ADIC for medical acquisitions.
The 168-bedroom property shares a 50-acre site with the 260-bed hospital. The whole complex, which cost £100m to build including around £22m in government grants, was put into receivership in November last year.
At the time of the financial crisis 20 hotel staff were laid off. The future of the 72 remaining staff at the hotel is believed to be secure.
Scott's Hotels, which managed the hotel before the receivership, is seeking to take on the management contract again.
Jan Hubrecht, managing director of Scott's, said the viability of the hotel was totally dependent on patient levels in the hospital.
