Jones Lang LaSalle Hotels brings Old Printworks building to market in Glasgow City Centre
Published by Anne Marie Hughes on Fri 13 Jul 12 @ 11:10
Acting on behalf of a private owner, Jones Lang LaSalle Hotels has been instructed to sell the former Old Printworks public house building at 36 North Frederick Street.
The site occupies a prominent position in the heart of Glasgow City Centre, near George Square, and offers strong transport links with Glasgow Queen Street Station located nearby.
Steven Fyfe at Jones Lang LaSalle Hotels, commented: "This property benefits from full planning and listed building consent, which were both granted for use of the premises as a public house and hotel. A purchaser may wish to amend the consent to increase the number of letting bedrooms.
"The property offers excellent development potential and is laid out over four principal floors plus an attic area."
Jones Lang LaSalle Hotels is seeking an asking price of offers over £700,000 for their client's interest in the heritable (freehold) interest.
Steven continued: "The property has been realistically priced to reflect the current condition and offers an opportunity to operators and developers. A purchase at the asking price equates to £20,000 per room which in today's market represents exceptional value and an opportunity to provide a purchaser with a significant return on investment."
A copy of the full planning consent can be obtained from Jones Lang LaSalle Hotels.