Property deals

Irish group opening boutique hotel in Glasgow

The Address Collective will occupy a former insurance building

Irish hotel group, The Address Collective, is expanding to Scotland with its fifth outlet to open in Renfield Street, Glasgow.

A £9 million investment by the McGettigan family business will provide a 95-bed boutique hotel over six floors of a listed building originally designed for an insurance company in the 1890s. It will open in early 2024.

Brian McGettigan said:  “We’re creating over 80 jobs and investing in the local community because we believe in the bright future of this dynamic city.

“We’ve chosen Glasgow because we love the people, the culture and can’t wait to raise the bar for luxury stays in Scotland.” 

Fife hotel acquired

The Lomond Hills Hotel at Freuchie in Fife, which shut earlier this year because of cash flow problemsm will re-open after being acquired from liquidators.

Glenshire Group, a mini-conglomerate with interests in restaurants, convenience stores and consumer goods is the new owner of the 18th century property.

Harris Aslam, from Glenshire, said the company was delighted to complete the deal and is looking forward “to investing in Freuchie”.

Lettings group moves into east

Property letting group Lomond has acquired two agencies in the east of Scotland.

The portfolios of Garden Stirling Burnet, based in North Berwick, and Eve Brown Property Services, which operates from St Andrews, will become part of the DJ Alexander brand, which manages about 10,000 properties across Scotland.

Lomond, which has made nearly 50 acquisitions since 2021. The latest deal brings together a team of 1,100 people across a network of 12 brands from Aberdeen to Brighton, with over 40,000 properties under management across the UK.

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