Safestay Sells Glasgow Charing Cross Hotel for £5.1m to Strengthen Balance Sheet and Support Expansion Plans
🏨 Safestay sold its Glasgow Charing Cross hotel for £5.1m. The property, acquired in 2019, was sold to an investor with similar hospitality ventures in Glasgow city. This sale, along with previous ones in Edinburgh and Brighton, aims to strengthen Safestay's balance sheet for future growth. Led by Christie and Co, the deal highlights Glasgow's hospitality market appeal. Chairman Larry Lipman emphasized the transaction's role in increasing portfolio flexibility and shareholder value.
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