Dalata is set to introduce the Clayton brand to Scotland with the development of the country's first ever Clayton Hotel in Glasgow.
As reported by The Irish Times, the proposed four-star venue will be comprised of approximately 300 bedrooms, a bar, restaurant and conference facilities, and while its construction is still subject to approval from Glasgow City Council, it is hoped that the hotel will open along the river Clyde by the end of 2020.
Dalata is joined in the transaction by a subsidiary of Artisan Real Estate Investors Limited called Artisan St Enoch Quarter Limited, and will acquire a 35-year operating lease subject to five-year rental reviews linked to the retail price index. Dalata's rent per room will be £8,000.
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Commenting on the transaction, Artisan Real Estate Investors property director Clive Wilding said, "We are pleased to have formed a development partnership with Dalata Hotel Group for this flagship regeneration opportunity providing the chance to restore the forgotten grade-A listed Custom House into a part of the new development. The new hotel forms the key part of a wider mixed-use development, for which the planning process will start shortly, with a view to being on site at the end of 2018 and open for business in 2020."