Hilton Glasgow sold to Topland Group

23 September 2011 by
Hilton Glasgow sold to Topland Group

The 319-bedroom Hilton Glasgow has been sold to international investment company the Topland Group for £35.7m.

Situated on William Street in the city centre, the hotel has been sold by the Royal Bank of Scotland, which completed the transaction within four working days. It is operated by Hilton Worldwide on a 30-year lease from 2001, producing a turnover-based rent which has consistently exceeded the base rent.

Clive Bush, managing director operations of Topland said: "The property offers a long term secure income stream and is typical of the type of investments which we are seeking. This is the second time in recent months we have completed a major transaction in four days."

Topland was advised by Maclay Murray & Spens.

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By Janet Harmer

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