HOTEL Indigo in Glasgow has been put up for sale by Glasgow-based private equity house Maven, writes Ian McConnell.
The 94-bedroom hotel is being offered with a franchise agreement with IHG Hotels under the Indigo brand.
Property consultancies Jones Lang LaSalle (JLL) and Cushman & Wakefield are marketing the property on behalf of Maven Capital Partners, which has been involved in a range of hotel developments in Glasgow and elsewhere in the UK in recent years. The four-star Hotel Indigo is located at the corner of Waterloo Street and Blythswood Street, in Glasgow’s international financial services district.
JLL highlighted the fact the hotel was within walking distance of the SSE Hydro arena. It also noted that the Victorian building that houses the hotel was formerly Glasgow’s first power station, and was converted from offices in 2010.
Neil Milligan, of JLL’s hotels and hospitality group, said: “The hotel has a prominent city centre location...and next to major retail and leisure areas with a loyal corporate and leisure client base which drives a consistent, strong trading performance.”
He added: “We expect significant interest from investors looking to tap into Glasgow’s burgeoning hospitality market.”
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