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Property Pawns & Plans 2007-06-02

Posted by clype in Glasgow, Humanities, Money.
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[Picture of the proposed hotel]Progress Property Developments Limited has lodged a planning application for a new 158 bedrooms 6 Star Deluxe International Hotel and an adjoining block of 68 serviced apartments designed by Ian Simpson Architects in the heart of Glasgow’s International Financial Services District (IFSD).

The hotel bedroom proposals range in size from 37 m2 to 70 m2 with two presidential suites each of 80 m2. The hotel is planned to sit beside The Radisson Hotel on Argyle Street and is proposed to contain a 630 people banqueting facility and extensive conference and meeting facilities. The hotel is also planned to include a rooftop ‘infinity’ pool, an ‘health spa’ and gym and a ‘skybar’.

The adjacent serviced apartments will be linked to the hotel and its facilities.

Progress Property Developments (PPD) is a substantial privately owned property company specialising in major city-centre regeneration development projects throughout the UK. PPD operates from offices in Glasgow and London and the CEO and owner is Glasgow born Mr. Charles Price who said today:

‘We have planned this energy-efficient development to compliment Glasgow’s aim to become a world-class city.

‘To achieve this we have researched the hotel and serviced apartment market throughout Europe and the Middle East. Our aim is to produce a world-class facility to service the increasing number of business visitors to Glasgow.”

A Pawnbroker in Glasgow faces having to move — for the second time — due to a hotel development.

Mr. Edward Fox, who owns and runs the long-standing firm ‘Robert Biggar‘, moved out of his premises in Argyle Street to allow The Radisson Hotel to be built in 1990.

However, his new site at the corner of 311 Argyle and Robertson Streets is now earmarked for a 125 million GBP luxury hotel.

It is in The International Financial Services District where Glasgow-born Mr. Charles Price wants to build a 26-storey six-star hotel, The Argyle International.

Mr.Price has already bought up most of the necessary land and is in the final stages of negotiations with the remaining property owners.

But no deal has been struck with Mr.Fox for the pawnbroker business which has been in existence since 1830 and sits at the corner of the development site. Mr.Price, who is managing director of ‘Progress Property Developments‘, said:

‘We have made every effort to negotiate with Mr.Fox at a price significantly higher than the reasonable market value of his property.

‘A formal offer was made in February of this year and it expired last month.

‘Unusually, we have even offered him as part of the deal, alternative premises in the block opposite and on top of the high market value have offered him a six-figure sum to cover shop fitting expenses.

‘I already own enough land to build the majority of the hotel and if “push comes to shove”, I will build it without him.’

Mr.Fox said he would sell up and move ‘if the price is right’. He said:

‘This is a very adventurous proposed development for the site and for Glasgow but no deal has been struck by myself and Mr.Price.

‘My business, “Robert Biggar”, has traded on this site for 17 years and since 1830 we traded at the opposite corner from my current location, which is now occupied by The Radisson SAS Hotel.

‘I don’t want to hinder the development — but I have to protect myself, my long-established business and its customers.’

Mr.Fox claimed the alternative accommodation offered by Mr.Price was too small. He added:

‘I’d be prepared to sell up if the price was right but in the meantime it is business as usual.’

‘The Argyle International Hotel’ is planned to have 26 storeys, 156 luxury rooms and a rooftop infinity swimming pool. Mr.Price also hopes it will boast the best restaurant in Scotland. An health suite, bar and restaurant on the 23rd floor will give panoramic views across the city.

The hotel plan has been welcomed by city council Development & Regeneration Director Mr.Steve Inch.

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Comments»

1. dave - 2007-06-12

Glasgow Residents’ Network have protest: http://tinyurl.com/ypundm

2. dave - 2007-06-12

Evening Times Newspaper petition — Vote! at http://tinyurl.com/2e35bf


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