The 0.62 acre site at Ingram Street is currently leased to National Car Parks and is used as a surface level car park.
It has now been sold for £6.75m to Merchant Hotel Glasgow Limited
The group has proposed to develop a part-luxury part-budget style hotel inspired by the Hoxton in Shoreditch, London and New York's Soho Grand Hotel.
-- Advertisement --
Overall, 213 of the rooms will be 226 sq ft in size, with the remaining 182 rooms at 151 sq ft.
The hotel is to also feature two ground floor entrances, four restaurants, a bar, a coffee shop, an 'urban garden', meeting rooms and private dining rooms.
Bailie Liz Cameron said: "The sale of this Ingram Street site will not only generate a major contribution to the public purse, but develop a key site in the city centre. The developer's commitment to a high quality design sympathetic to the surrounding building is very welcome, and will I'm sure bring even more visitors day and night to this very attractive district in Glasgow. We have now taken another step towards the complete regeneration of the Merchant City."
In addition, the new public realm on the Ingram Street frontage of the hotel will also be delivered through the development.
(LM/CD)
