Linthouse Business Park Ltd, advised by Ryden, has successfully completed the development and onward sale of Glasgow Govan Travelodge, a 60-room hotel with an on-site restaurant called the Bar-Café, at its site in Linthouse Road, Govan in Glasgow.
Travelodge, UK’s largest independent hotel brand, entered into a pre-letting of the property, which is located close to the recently opened Queen Elizabeth University Hospital, Europe's largest critical care complex currently serving 41% of Scotland's population. The hotel development was completed in January 2019, ahead of schedule, and is now open.
The hotel was acquired by a private investor for £5.26m, an initial yield of 5.59%, following a competitive closing date.
Ryden acted on behalf of Linthouse Business Park Ltd whilst CBRE (Belfast) represented the purchaser.