McAleer & Rushe unveils plans for new four-star hotel in Glasgow
The proposed c. 250 bed Maldron Hotel will come with bar, restaurant and business conferencing facilities and will centrally located on Renfrew Street adjacent to the Theatre Royal.
The £30 million project, which is subject to planning approval from Glasgow City Council, is projected to be delivered by mid-2020, representing Dalata Hotel Group’s first Maldron hotel in Scotland. Once construction is completed, Dalata will operate the hotel under a 35-year lease, subject to five-year rent reviews linked to the Retail Price Index.
This latest McAleer & Rushe project represents a long-standing partnership with the Dalata Hotel Group in delivering hotels across the UK and Ireland and follows the recent announcement of its sale of the planned Maldron Hotel in Newcastle to a major institutional fund, the UK Commercial Property Trust Limited (UKCPT).
Stephen Surphlis, property director at McAleer & Rushe, said the hotel’s strategic positioning on Renfrew Street will support Glasgow’s growing economy, positively contributing towards the surrounding urban environment and create construction as well as indirect employment.
He added: “The announcement of our latest lease deal with Dalata represents the growing confidence in key regional UK cities for hotel operators, particularly in Scotland. This major new four-star Maldron Hotel will be an exciting addition to this dynamic consumer and business hub.”