Beaufort Capital completes Glasgow aparthotel deal

George Sell George Sell Uploaded 28 November 2017

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UK: Beaufort Capital has announced the completion of two development projects in Scotland with Artisan Real Estate investors, including a Glasgow aparthotel.

Equity and mezzanine investments were provided for a residential development in Edinburgh and an equity investment for a hotel and aparthotel development in Glasgow, with an anticipated combined GDV of around £120 million.

Artisan has acquired two adjacent vacant buildings in Glasgow, Custom House and Spectrum House. It will submit plans to redevelop them into a 350-room hotel and 150-room apart-hotel. The buildings are close to the bank of the river Clyde and will also provide conference space.

Joe Flaherty of Beaufort Capital said: "We are very pleased to announce the completion of both deals. Artisan is a top-quality developer, and we were exceptionally impressed with the team, and what they have achieved at the first phase of New Waverley. We have every confidence in their ability to deliver the same excellent results in Edinburgh and Glasgow. This is an important first step in what we hope will be a long and fruitful partnership between our two organisations."

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