THE administrator overseeing the marketing of the renowned Lorne Hotel in Glasgow has said he is "extremely pleased" with the level of interest so far.

Specialist business property advisor Christie & Co was last week appointed by joint administrators, Alistair McAlinden and Blair Nimmo of Interpath Advisory, to market the former Lorne Hotel in Finnieston.

The hotel comprises 102 en-suite bedrooms, a hotel reception with lounge seating and a large modular function room with capacity for 170 guests.

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Before closing in december 2020, the business traded profitably as a three-star hotel with an independent bar and restaurant, Bukharah Restaurant and the Bilberry Cocktail Bar, which also ceased trading following the administration appointment.

Mr McAlinden, managing director at Interpath Advisory and joint administrator of Bellhill Limited, said: “We have been extremely pleased with the level of interest shown in the former Lorne Hotel since our appointment as administrators.

"Indeed, properties of this size and particularly in such a prime location don’t come to market in Glasgow very often.

“The proximity of the hotel to both the city centre and the West End, as well as Glasgow University, the Hydro and SSE and many renowned cafes, bars and restaurants, makes this an ideal investment for an hotel owner-operator, as well as being a highly attractive development opportunity for alternative use.”

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Christie & Co said that the sale process will start on Wednesday, August 4.

"The property is surrounded by some of the city’s best bars, cafes and restaurants on Argyle Street, along with the nearby SSE Hydro arena, one of the world’s busiest live entertainment venues, and a range of galleries, museums and parks including the Kelvingrove Art Gallery and Museum, Kelvin Hall and Kelvingrove Park, and historically enjoyed a strong leisure clientele base as a result," the advisor Co said.

Brian Sheldon, of Christie & Co, said: “This sale presents a fantastic opportunity to secure a primely positioned, large-scale hotel that is surrounded by numerous leisure drivers in a thriving part of Glasgow.

"As such, we expect it to appeal to a wide range of purchasers, including existing hotel operators and local and regional investors.

"However, we also anticipate some interest for alternative use such as conversion to an aparthotel, student accommodation due to its proximity to the University of Glasgow, or alternatively, residential and Private Rented Sector. Planning permission has also been secured to develop an additional number of guest rooms, creating plenty of opportunity for prospective buyers.”