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News Release

Glasgow

Indigo sale to add colour to Glasgow hotel market


GLASGOW, January 16, 2018 – Hotel Indigo Glasgow has been put up for sale by its owners, representing a rare investment opportunity to buy a 4-star hotel in a prime city centre location.

The 94-bedroom hotel is offered with the benefit of a franchise agreement with IHG Hotels under the Indigo brand, which has 85 hotels worldwide, including 24 in Europe. 20 new Indigo hotels are scheduled to open in Europe over the course of the next two years, with 11 in the UK including a hotel in Dundee.

Indigo, IHG's upscale boutique brand, is located in the heart of the Financial Services area on Waterloo Street and comes with a cocktail bar, Marco Pierre White Steakhouse Bar & Grill restaurant and guest gym.

Occupying a prominent corner site at the junction of Waterloo Street and Blythswood Street, the Hotel is within a short walk from the City's two main train stations and has good transport links to Glasgow Airport.

Formerly Glasgow's first power station, the Victorian building which houses the Hotel was converted from offices in 2010 and is currently undergoing a refresh, due to complete early this year.

JLL Hotels & Hospitality and Cushman & Wakefield are marketing the hotel on behalf of its current owners, Maven Capital.

Neil Milligan from JLL Hotels & Hospitality Group said: "We're pleased to bring this exciting investment opportunity to the market. The Hotel has a prominent city centre location, is walking distance from the Hydro Arena and next to major retail and leisure areas with a loyal corporate and leisure client base which drives a consistent, strong trading performance. We expect significant interest from investors looking to tap into Glasgow's burgeoning hospitality market."

Craig Millward, Partner, Head of Hotel Transactions, Cushman & Wakefield, said: "Assets of this quality in prime city centre locations come to market all too infrequently – we expect there to be a high level of interest from both domestic buyers as well as from outside the UK. This is a compelling investment case especially as there are further asset management opportunities to consider."