Bloc Hotels is to unveil its fourth property following the purchase of a development site in central Glasgow.
The hotel chain, which currently comprises properties in Gatwick Airport and Birmingham’s Jewellery Quarter with a third under construction, has acquired 21 West George Street in the city to be transformed into a new seven-storey hotel and retail space.
The former cash counting and storage facility, known as Dale House, comes with full planning consent to replace the existing 1980’s building with the high-tech, smart hotel that aligns with the Bloc brand.
The latest addition has been purchased by LGIM Real Assets, a division of Legal & General Investment Management.
Dominic Mayes, property director at Bloc Hotels commented: “We are really excited to have acquired this site and look forward to delivering Bloc Glasgow to this extremely vibrant part of the city. The property is in a prime location, directly opposite the recently redeveloped Queen Street Station, where the number of people using the station is set to increase by 40 per cent, reaching 28 million by 2030. This is another defining moment in the company’s ambitious growth strategy, as we continue to expand into key gateway locations.”
Kerr Young, director, JLL, who advised on the sale, commented: “Glasgow remains a target location for a large number of hotel operators. We continue to see good traction across the UK from a number of well capitalised new and expanding hotel concepts and are delighted to have been instrumental in bringing Bloc Hotels to Scotland.
“We received in excess of 20 offers for the site and that is testament to the quality of the location and the opportunity it presents.”
Bloc Hotels owns and operates the 245-bedroom Bloc Gatwick and 105-bedroom Bloc Birmingham Jewellery Quarter. The 227-bedroom Bloc Grand Central development is currently under construction