The former Virgin Hotel in Glasgow has sold over a year on from its sudden closure in December 2023.
It was confirmed today (Wednesday, January 15) that administrators of Lloyds Developments Ltd have sold the site to the Martin Property Group.
Around 150 employees lost their jobs when the 240-bedroom hotel overlooking the river on the city’s Clyde Street closed just four months after opening.
The 17-storey hotel boasted a ground floor restaurant and bar, mezzanine bar and lounge, terrace area, and conference and meeting facilities.
Managing Directory at Interpath and joint administrator of Lloyds Developments Ltd, Geoff Jacob said: “The hotel occupies a prime position on the Glasgow riverfront.
“We look forward to seeing the hotel back in operation and wish the purchaser every success in the future.”
Lloyds Developments Ltd – which Virgin Hotels has a management contract with – was put into administration by its lenders on December 1.
The directors of V Hotel Glasgow Limited – the employer and operating company in respect of the hotel – were advised to place it into liquidation, with the hotel placed on the market by Savills in March 2024.
More than 80 Scottish artists and musicians also wrote an open letter in a plea for money owed to them after the sudden closure of the hotel.
Acts booked to play the venue pleaded with Sir Richard Branson to step in and said an accumulative £17,000 is owed – with some individual artists owed as much as £4,000.
It is not yet known when the hotel will reopen.
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