Whitbread has signed a deal with ING to convert a former office block on Glasgow’s West Nile Street, just off Sauchiehall Street, into a new 210-bedroom Premier Inn hotel.
ING and Premier Inn will invest £10.5m into development of the hotel. The group is currently planning nine new Premier Inns and restaurants in Scotland, representing investment of £42.7m.
John Bates, head of acquisitions for Whitbread Hotels & Restaurants, said: “Premier Inn is the most successful budget hotel operator in the UK today and we want to ensure that ongoing success by investing in key locations – West Nile Street is one of these. We have identified significant opportunities to bring the quality and value of the Premier Inn proposition to a number of new target locations across Scotland. This latest investment is an essential part of that programme.”
The scheme will be the first office block to hotel conversion project in Scotland to benefit from the Business Premises Renovation Allowances scheme – a government initiative to encourage the conversion of empty properties in key areas.