The MRP Group, specialists in the serviced apartment and aparthotel sector, are pleased to announce the release of Project Royal X, a planned development of 160 units in the centre of Glasgow. The MRP Group has initiated an exclusive search for a qualified operator to lease or manage the property.
This mixed-use aparthotel development will be comprised of studios and suites on the top 10 floors and a wide range of amenities on the lower levels including reception/foyer area, a food market hall, and office space. The coveted C1 permitted use will allow the aparthotel operator to position the property for both long-term corporate travellers and leisure travellers looking for the perfect city break.
Located in the heart of Glasgow City Centre, Project Royal X is close to the business district in West George Street and St. Vincent Street and less than a 10-minute walk from Clydesdale Bank’s new HQ. The property is well connected to Glasgow’s subway, with Buchanan station just a 5-minute stroll. Easy connections to other popular UK destinations are made with nearby Glasgow Central and Queen Street stations, and Glasgow’s international airport is a quick 15-minute drive away.
Glasgow, Scotland’s largest city, is also its largest economy and has the third highest GDP per capita of UK cities. The city has seen significant public investment in infrastructure, with an additional £1.1bn in planned initiatives aiming to improve the city’s infrastructure and connectivity. Glasgow sustains over 12,000 companies including 3R Synergy, Lochlane Investments, and The Turnkey Group. Therefore having strong foundations for engineering, manufacturing, and design, plus a growing service-based economy. The city is known for hosting large events, which last year generated £34m for its economy, and welcoming 500 conferences worth £123m last year.
Due to the city’s robust economy, accommodation demand continues to outpace supply. The hospitality sector has seen substantial increases in occupancy, ADR, and RevPAR over the last five years. Project X will be a highly valued aparthotel offering and a signature property for a new or expanding Glasgow serviced apartment portfolio.