Administrators have completed the sale of the former Virgin Hotels building in Glasgow to a Northern Ireland based group.

It has been acquired Martin Property Group of Londonderry which has interests in commercial and residential property throughout the UK and Ireland.

The 17-storey hotel, on the north bank of the River Clyde was closed before Christmas 2023 just four months after opening, with the loss of 130 jobs as the building’s owner Lloyds Developments went into administration.

Virgin Hotels, which earlier that year had opened its first UK outlet in Edinburgh, had a management contract with Lloyds Developments for the Glasgow hotel. It has 240 bedrooms, of which 165 are completed.

Geoff Jacobs, managing director at Interpath and joint administrator of Lloyds Developments, said: “The hotel occupies a prime position on the Glasgow riverfront. We look forward to seeing the hotel back in operation and wish the purchaser every success in the future.”

Interpath is working with stakeholders across a number of projects, including the East Kilbride Shopping Centre.