UK: Actual property funding and improvement firm Martin Property Group has acquired the Virgin Lodge on Clyde Avenue, Glasgow out of receivership for an undisclosed sum.
The posh 17-storey resort initially opened with 165 bedrooms in August 2023. It closed the next December.
Martin Property Group intends so as to add an additional 77 bedrooms and is contemplating introducing a gymnasium, operate suite, whisky bar and occasional store.
Property consultants Graham + Sibbald represented Martin Property Group within the deal.
Anthony Jackson, funding director for Martin Property Group, stated: “The resort was an ideal match for our funding and improvement standards, Graham + Sibbald’s native information and specialist nationwide resort experience performed a key half in facilitating the deal. We intend finishing the resort and reopening it as quickly as attainable.”
Hugh Anderson, resort and leisure accomplice, Graham + Sibbald, stated: “The Virgin Lodge supplies a fantastic market alternative for our consumer. We look ahead to persevering with to work with the group to make sure a profitable completion and reopening.”
Peter Fleming, funding director, Graham + Sibbald, added: “Glasgow stays a sturdy marketplace for buyers and will probably be nice to see the constructing getting used once more for its supposed function. We want the group at Martin PropertyGroup all the very best with the reopening of the resort.”
