Developer Artisan buys Glasgow's Custom House hotel site
The Custom House site in Glasgow city centre has been sold to a development and investment company for a sum 'significantly above' the asking price of £1.75 million.
The Grade A-listed building and adjoining land, overlooking the city’s waterfront, has planning consent for a 14-storey new-build hotel incorporating 209 bedrooms, restaurant and bar, conference and meeting facilities, together with gym and leisure facilities.
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The development site has been acquired by development and investment company Artisan Real Estate Investors.
Steve Barnett, managing partner of Shepherd Chartered Surveyors, said the level of interest generated by the sale of the site was “impressive”, adding: “This deal provides yet another example of the strength of demand for further hotel development within Glasgow’s city centre.”
Presently vacant, Custom House was recently occupied by the procurator fiscal.