Burness Paull advised the joint administrators of Lloyds Developments Limited, Geoff Jacobs and Richard Heis of Interpath Advisory Trading Limited, on the sale of the former Virgin Hotel in Glasgow to a Martin Property Group entity, which completed on 23 December 2024.
The 17-storey hotel, located on Clyde Street in Glasgow and overlooking the River Clyde, comprises 240 guest bedrooms (165 of which are completed) in addition to a ground floor restaurant and bar, mezzanine bar and lounge, terrace area, and conference and meeting facilities.
The Burness Paull team advising on the transaction was formed of Michael Thomson, Fiona Carlin, Riccardo Alonzi, Alex Fagerson, Mairead Smith, and Ailsa Davies.
Support was also provided by Jonathan Heaney, Gemma Young, Greig Baxter, Jack Denholm, and Donald Findlay.
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