Sold for conversion to upmarket Guest House
CDLH, Scotland’s leading firm of Chartered Surveyors specialising in the leisure and hospitality sector, have sold the historic Cathedral House Hotel at Cathedral Square in the heart of Glasgow City Centre.
Peter Darroch, Director at CDLH, who handled the sale on behalf of their clients, Trust Inns, commented, “The building dates from 1878 although parts of the site go back to 1471 and the property has real character. The property has an excellent trading location, virtually adjacent to Glasgow Royal Infirmary and close to the Strathclyde University Campus and has a bar/ restaurant at ground and first floor, 8 letting bedrooms and an external beer garden.
We have placed the property on the market at offers over £435,000 in the summer of 2018 and were inundated with enquiries from our database of active purchasers. This resulted in a closing date being set shortly after commencing marketing and a number of offers were considerably in excess of the asking price were received.
The property was quickly placed under offer but the completion was delayed whilst awaiting vacant possession. The property has been sold to an established and highly reputable hotelier who plans a significant refurbishment and repositioning of the business, focussing on bedroom income.
Our clients are delighted with the outcome of the quick and efficient sale process and the outcome proves that where a business is properly marketed, an excellent outcome can be achieved for all concerned.
For further information contact firstname.lastname@example.org or 0141 331 0650.
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