Sale of Merchant City site for hotel development
Following another successful marketing campaign by City Property (Glasgow) LLP, the Council’s Executive Committee yesterday (8 September) approved the details of the sale of the site at 69-97 Ingram Street – currently an NCP car park – to Merchant Hotel Glasgow Limited for the development of a hotel in the Merchant City.
The proposed hotel will be of high quality, with almost 400 bedrooms, two restaurants, two entrances, a bar and coffee shop built on a site of 0.62 acres. A key aim of the proposal is the creation of a building that acts as a focal point for the Merchant City, attracting both hotel guests and visitors to the area.
Merchant Hotel Glasgow Limited will pay Glasgow City Council – the owner of the site – a single payment of £6.75million on the date of entry.
Councillor Frank McAveety, Leader of Glasgow City Council, said: “The Merchant City is already a fantastically successful attraction in Glasgow, and the development of a high quality hotel such as one proposed for Ingram Street could help to take the area to another level as a visitor destination. Buildings such as this can play a key role in Glasgow’s day and night-time economies.”