JOURNALISM: HERALD BUILDING BECOMES A HOTEL FOR £10 MILLION

By Bill Heaney and Hamish Mackay

The former home of Glasgow’s three sister dailies is set to become a 300-bedroom hotel. Developer MRP has completed the purchase of the old Renfield Street offices of The HeraldGlasgow Times and The National. A four-star Maldron hotel, with a bar, restaurant and business facilities, is now set to open on the site.

The Times understands the sale of Renfield Street was agreed for a price of more than £10 million with vendor Aegon Asset Management. Angus Monteith, development director at MRP, told The Times: ‘The purchase is part of a major, long-term investment project for us in this area of Glasgow’.

The ground and first floors are currently being let to the Department of Work and Pensions for a temporary job centre to deal with a rise in unemployment due to the Covid-19 pandemic.

Angus Monteith, development director at MRP, said: “The purchase is part of a major, long-term investment project for us in this area of Glasgow.

“Our 300 bed 4-star Maldron hotel will open in July 2021 and we have planning consent for our 110,000 sq ft Broadway Central office development.”

The new hotel and office site is known as Broadway Two while Broadway One is currently home to Tesco Bank.

Mr Monteith added: “Our development plans will revitalise an important area of the city centre and support its economic recovery, particularly following the pandemic.

“We plan to create a fantastic, combined state with generous public realm that will make our new office building at Broadway Central unique in Glasgow city centre.”

Andy Cunningham, from CBRE, who handled the sale, said: “It is great news that we have managed to secure the purchase of this well-known building in Glasgow city centre for MRP.

“It is located in a prime area of the city centre and has unrivalled public transport links and access to endless amenities.

“MRP has made a significant investment in the area showing that despite the pandemic, there continues to be strong interest for high quality sites in the right locations.”

Last month, the DWP confirmed a temporary job centre was being considered in Glasgow, after the city council granted planning permission for the Renfield Street site.

Glasgow Times:

A spokeswoman said no further information could be provided for commercial reasons, but “once leases are signed on temporary premises”, details will be published on the government website.

Three centres have been confirmed in Scotland: Aberdeen, Ayr and Falkirk.

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