The hotel is centrally located and just 8 miles from Glasgow airport and provides a total of 319 bedrooms with extensive meeting, conference and function facilities. The operating lease to Hilton, a 30-year lease from 2001, produces a turnover based rent which has consistently exceeded the base rent.
The vendor Royal Bank of Scotland selected Topland who completed on the transaction within four working days.
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.
Source: MJ2 Limited