Christie & Co has completed on the sale of the Lorne Hotel to PL Glasgow Limited on behalf of the joint administrators of Bellhill Limited, Blair Nimmo and Alistair McAlinden of Interpath Advisory.
The 102-bed three star hotel is located in a prime location on Sauchiehall Street, between Glasgow’s city centre and the popular West End district and within walking distance to tourist hotspots such as: The SSE Hydro, The SEC Conference Centre, University of Glasgow and Kelvin Grove Park. The hotel was forced to close its doors in December 2020, due to the impact of the COVID-19 pandemic. Administrators from Interpath Advisory were subsequently appointed to the hotel’s owner, Bellhill Limited, in May 2021.
Working closely with the Joint Administrators’, a carefully designed marketing process was undertaken by Christie & Co which exposed the property to both hotel operators / investors and property developers. This approach maximised the exposure to potential buyers and helped to drive best value for the creditors of Belhill Limited.