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News Release

Glasgow

Old Printworks sale adds to Glasgow’s hotel development pipeline


Glasgow, 5 April 2013 - Jones Lang LaSalle Hotels & Hospitality have sold the former Old Printworks building at 36 North Frederick Street to boutique hotel brand Z Hotels.

The company, who already have two premises in London and one in Liverpool, are understood to be planning to develop their first Scottish offering at the traditional four storey plus attic city centre property.

Jones Lang LaSalle acted on behalf of the Trustees for the Firm of the Hampton Court Hotel during the sale process.

Steven Fyfe, senior surveyor at Jones Lang LaSalle, said: “The development potential of the former Old Printworks building is excellent as the property benefits from full planning and listed building consent, which were both granted for use of the premises as a public house and hotel.

“The property is also eligible for the BPRA (Business Premises Renovation Allowance) tax-saving equity scheme, which made it even more attractive to the buyer.

“The location of the site, at the heart of the city centre, is ideal for a hotel brand which committed to accommodating city dwellers. The former Old Printworks building is just off George Square, within the Strathclyde University Campus area and less than 200 metres from Queen Street train station.”

“The sale demonstrates there is an appetite for developers, investors and operators to enter the Glasgow hotel market. I would encourage property owners or investors to contact us to discuss the potential of their property.”

Z Hotels are a brand targeting “urbanites” who want “central hotels with uber-modern interior design”. The company currently operate properties in London’s Soho and Victoria and at North John Street, Liverpool.

For further information contact Steven Fyfe on 0141 567 6685 or by email: steven.fyfe@eu.jll.com.