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Hotel Development Opportunity For Sale, 11 Oswald Street, Glasgow, G1 4QR

0.1 acres / Leisure / Hotel

For Sale

Available - Last updated: 01 November 2024

The site occupies an excellent position in Glasgow city centre in close proximity to Glasgow Central Station. It is bound by Oswald Street to the east, StayMetro Serviced Apartments to the north, Clydeport building to the west and a lane to the south.

The site is rectangular in shape and is comprises a five-storey, mid-19th century former bonded warehouse. The planning permission includes demolition of the existing warehouse and the site is available with full vacant possession.

The site benefits from planning permission granted by Glasgow City Council (Ref: 22/01759/FUL) for a 174-bedroom hotel on the site across 11-storeys, including one dining area on the ground floor that will service breakfast. The hotel will include two passenger lifts.

The hotel rooms are split into two broad categories, being Standard Rooms (13 sq m) and larger rooms that will be split further into Family, Premier and Universally Accessible Rooms. The larger rooms will be approximately 21 sq m in size. All rooms will be of contemporary design and will benefit from a minimum of 2.5 sq m glazed area. It is currently configured that the standard rooms will make up 70% of the total room stock.

Location

11 Oswald Street is located in Glasgow city centre, Scotland’s largest city and the country’s economic powerhouse. Glasgow sits within Scotland’s Central Belt, the dominant economic area of the country, that also contains Edinburgh. The city has a population of 635,000 with a wider catchment of over 1.85 million and is one of the most vibrant and dynamic cities in Europe.

Glasgow benefits from a range of world class museums and visitor attractions with excellent bars and restaurants, whilst its accessibility to transport make it an ideal base to explore Scotland. The city is also a popular convention and events destination, with the facilities at the Scottish Events Campus attracting major events including COP23. In addition, the SSE Hydro plays host to major musicians and artists and rank amongst the busiest arenas in the world.

The site is located at 11 Oswald Street, approximately 200m south of Glasgow Central Station. The area surrounding the site is largely mixed-use and includes hotels, offices, retail and F&B.

Oswald Street connects to the Broomielaw, a major thoroughfare that runs alongside the river Clyde. Broomielaw connects to the M8 motorway, connecting Glasgow city centre with the wider trunk road network. The site is located around 200m south of Glasgow Central Station which is the busiest station in Scotland, serving 38 million passengers annually with services to destinations including Birmingham, Manchester and London. Glasgow Airport is an international airport serving 120 destinations and is located approximately 9 miles west of the site.

Accommodation

Site Area - 0.1 acres

Terms

Price - Offers are invited for the Heritable Interest in the site and offers conditional on planning are unlikely to be considered. In submitting a bid to purchase the property the following information is required:  Purchasing entity, purchase price, offer conditions, confirmation of funding and proposed timetable for completing the purpose.

Tenure - The Property is held Heritable (Scottish equivalent of Freehold).

Planning - Planning permission has been granted for a 174 bedroom hotel (Ref: 22/01759/FUL) which includes demolition of the existing building on site. The Planning Permission was granted on 24 July 2024. We would advise any interested parties to make their own enquiries of Glasgow City Council in relation to planning queries.

We understand that the Property is not listed and is located within the Glasgow Central Conservation Area.

Specification

  • A rare development opportunity located in the heart of Glasgow city centre and a short walk from Glasgow’s Central Station and Buchanan Street.
  • A site of 0.1 acres with full planning permission for a 174 bedroom hotel development over 11 floor levels and totalling 4,380 sq m (47,146 sq ft).
  • Excellent location within the International Financial Services District (IFSD) area of Glasgow city centre, close to outstanding food and beverage amenities and the most buoyant retail location outside of London.
  • The surrounding area has emerged as a hub for bedspaces, with nearby occupiers including Radisson Blu, Motel One, Yotel and StayMetro Aparthotels. The recently developed Buchanan Wharf, which includes the Solasta Riverside Build to Rent scheme, is located nearby.
  • Glasgow benefits from a strong hotel market, underpinned by high visitor numbers driven by both the corporate and leisure segments.
  • Offers are invited for the Heritable Interest in the development site.

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
Offers Invited For Sale Freehold NA NA

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Contact agents

Alex Warburton

CBRE Ltd

0141 432 0145

Kathryn Bennett

CBRE Ltd

0141 432 0156

Charles Jones

CBRE Ltd

0121 369 0171

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