Rossmark Hotel Group has made its maiden purchase with the acquisition of the prominent Bewleys hotel in Glasgow's Bath Street for well in excess of £10m.
Rossmark is a sister venture to Glasgow property investment and development Baronsgate Estates, whose £100m-plus portfolio includes shopping centres in Glasgow, Edinburgh and Grangemouth.
Rossmark managing director Stuart Wilson plans to continue running the 104-bedroom city centre hotel with a 90-seat brasserie as Bewleys until later this year, when it will be relaunched with a new concept following a major refurbishment.
The confidential, off-market deal was handled by Christie + Co director David Reid.
By Angela Frewin