Forrest Group Developments

Forrest branches out with £40 million Hotel Development Plan
18 April 2007

Forrest Developments have successfully completed the £4.6 million purchase of the 1.4 acre Clyde riverside site, previously owned by the RAC in Glasgow.

At the junction of Lancefield Quay and Finnieston Street, the development of this landmark site is regarded by Forrest Developments as the start of a completely new business avenue and talks have already started with interested hoteliers.

This is Forrest's first sortie into hotel development which focuses on an area of Glasgow which is currently undergoing a major transformation. The site has the new Finnieston Bridge nearby, while the proposed National Arena designed by Sir Norman Foster, the SECC and the Clyde Auditorium are to its rear.

The 23,376 sq. ft. of buildings, currently on the former RAC Roadside Services Centre land, will be demolished shortly and a detailed planning application will be submitted shortly to Glasgow City Council for a commercial/retail scheme.

"We have enjoyed great success specialising in out-of-town retail and leisure developments and we remain committed to that business", says Donald Stewart, Managing Director of Forrest Developments. "But this site purchase and our plan to develop a 3, 4 or 5-star hotel , or possibly another commercial project, is something new and really exciting for us".

Chris Trainer, Chief Executive, adds "It's a new sphere we're moving into, but we bring to it our good reputation, our commitment to creating jobs and our overall company excellence. We have other sites in our portfolio that hoteliers are looking at as well, so this is a major extension of business for us".

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