Search
The Caterer

Radisson Blu Glasgow sells for around £28m

11 December 2012 by
Radisson Blu Glasgow sells for around £28m

The four-star, 247-bedroom Radisson Blu in Glasgow has been sold out of administration to the Azure Property Group for around £28m.

The deal includes a long term management agreement with Rezidor Hotels & Resorts to operate the property under its premium Radisson Blu brand, as well as three retail units, which are let to LA Fitness and Barrhead Travel.

Real estate company Savills handed the sale on behalf of the administrators RSM Tenon.

Robert Stapleton, associate director in Savills hotels team, said: "The Radisson Blu Glasgow received significant interest from the market and was sold out of administration exactly one year after the administrators were appointed. We believe this is the first single asset management encumbered hotel sale in the UK since 2008, illustrating the quality of the property and the strong historic trading performance of the hotel."

David Allan appointed GM of Radisson Blu hotel, Glasgow >>

Delegates at Radisson Blu hotels to be kept alert with brain food >>

Radisson Blu Edinburgh named as Gram's Hotel Sustainable Champion >>

By Janet Harmer

E-mail your comments to Janet Harmer here.

Tabletalk
Tabletalk
If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to www.catererandhotelkeeper.com/tabletalk

Catererandhotelkeeper.com jobs

Looking for a new job? Find your next job here with Catererandhotelkeeper.com jobs

Blogs on Catererandhotelkeeper.com ](http://www.catererandhotelkeeper.com/blogs) Catch up with more news and gossip on all Caterer's blogs
[E-Newsletters](http://www.catererandhotelkeeper.com/email-newsletters.htm)[ For the latest hospitality news, sign up for our E-newsletters
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.