Topland nets Hilton Glasgow in £35.7m deal

Privately-owned investment firm Topland Group has confirmed that it has acquired the 319-bedroom Hilton Glasgow property on William Street in a deal worth £35.7m.

Royal Bank of Scotland selected Topland as its preferred buyer for the hotel, which features the Ocean Room Spa; a fitness centre; a sauna and whirlpool; and a 15m swimming pool.

Hilton currently runs the Glasgow property on a 30-year lease signed in 2001 and produces a turnover-based rent, which is said to have "consistently exceeded the base rent".

Topland managing director of operations Clive Bush said: "The property offers a long term secure income stream and is typical of the type of investments which we are seeking."