A developer is being sought to transform the former customs office in Glasgow city centre into a 209-bedroom hotel, after the original developer went into administration.
Property company ES Group has been commissioned by Zolfo Cooper, the administrators of Ashcap, to seek a new investor to help progress the £20m development. The original scheme made provision for the hotel to be operated under Hilton Worldwide's Double Tree by Hilton brand, however the scheme could be adapted for operation by an alternative brand.
Planning and listed building consent have already been granted for the redevelopment and extension of Custom House, a Greek revival former customs office, overlooking the River Clyde on the edge of Glasgow's central business district. The plans involve the redevelopment of the existing building, alongside the construction of 14-storey extension to provide a 209-bedroom hotel with a restaurant, bar and leisure and conference facilities.
Hugh Anderson, director at ES Group, which is managing the bidding process, said: "We anticipate considerable interest in this rare opportunity and would encourage interested parties to get in contact as soon as possible.
As an alternative to finding a new develop, the freehold interest of the property could be sold for £2.5m, with the benefit of the existing planning consent.
For more information please contact Hugh Anderson on 0161 216 3131.