A ‘rare opportunity’ has come to market in Glasgow, with the sale of a Grade A listed building with planning permission to develop a new boutique hotel.
The site, situated in Merchant City, is for sale at offers over £1.33m and is being marketing through DM Hall.
The freehold interest of the circa 8,500 square foot property, which dates back as far as 1760, boasts accommodation across five floors.
Within its current ownership, the building has been consistently maintained and upgraded since the early 1990s.
Full planning permission has been granted for bar and restaurant uses for the ground floor and basement as well for 18 boutique bedrooms to be developed on the upper floors.
The premises have been approved for a provisional alcohol licence which also allows access for children.
The licence details alcohol can be sold up to 1.00am where at least 75 per cent of the floor area of the premises is given over to the provision of restaurant facilities.
Jonathan McManus of DM Hall’s Glasgow-based commercial agency department said: “This is a very attractive opportunity for developers / hoteliers who recognise the long-term ongoing development of the Merchant City as a highly appealing city centre hub.
“There is always room in the heart of Glasgow city centre for an attractive, upscale boutique hotel that promises not only to bring in local people but that will appeal also to the anticipated burgeoning, post-Covid-19 tourist and conference clientele.”