Singapore real estate firm RealVantage jointly acquires Arthouse Hotel in Scotland for over $20m
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The 59-room Arthouse Hotel in Scotland's Glasgow city is undergoing renovation.
PHOTO: ARTHOUSE GLASGOW
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SINGAPORE – Singapore real estate firm RealVantage has joined forces with a London firm to buy the Arthouse Hotel in the Scottish city of Glasgow for £12 million (S$20.8 million).
RealVantage owns 85 per cent of the 59-room hotel, with its British partner Oberland, a London-based real estate investor and asset manager, accounting for the rest.
The deal was struck in January, and RealVantage is now overseeing extensive interior renovations, including to the hotel’s birdcage lift and other heritage aspects.
C1 Capital Partners is the appointed interim operator for the hotel, which will have 74 keys once renovations are completed late in 2025.
RealVantage and Oberland aim to improve the hotel’s financial performance over three to four years before putting it back on the market.
Potential purchasers include real estate investment trusts, family offices, hospitality-focused funds, high-net-worth individuals and hotel owner-operators.
RealVantage co-founder and chief executive Keith Ong said: “RealVantage is well poised to capitalise on healthy inbound tourism arrivals and seek to satiate a shortage of good quality accommodations with a strong legacy brand.”
Oberland co-founder William Riordan added: “The property, with its striking architecture and exceptional features, offers significant value creation opportunities and is a perfect fit for our strategy of acquiring and managing high-quality heritage assets.”
The Arthouse Hotel, formerly the ABode Hotel, was built in 1829 and was previously the home of Sir Henry Campbell-Bannerman, Britain’s prime minister from 1905 to 1908.
RealVantage, which invests in hospitality assets, has funded 94 deals across Australia, Hong Kong, Singapore, South Korea, Britain and the US.
People can invest via its online platform. The firm has two broad strategies – lending to developers and collecting interest payments, or funding or part-funding property investments, such as the Arthouse Hotel deal.
