Ian Simpson’s project to build a £125 million ‘six-star’ hotel in Glasgow has been thrown into doubt after the developer was placed in administration
Simpson’s plans for the 158-room, 26-storey hotel and an adjoining block of 68 serviced apartments appear to have hit the buffers three years after they were submitted to Glasgow City Council planners.
The 32,000m2 scheme, which was to include a rooftop infinity pool, cafés and restaurants, was being developed by BLN Property Developments. The company made a loss of £22.2 million in 2008/9 before KPMG was appointed its liquidators.
A Scottish government-backed compulsory purchase order was being challenged by owners of premises on the site.
The project was originally forecast to complete in late 2011.
The liquidation marks Simpson’s second Jumierah hotel scheme to be scuttled by market forces.
In October, the studio’s 52-storey One Blackriars Road skyscraper on London’s South Bank was put into administration. The project for Beetham Holdings and Russian property company Mirax was designed to feature a 261-bedroom Jumeirah hotel.