Jarlaw has finally bought Glasgows head post office site in George St after more than three years of negotiations.
The Aberdeen-based developer is believed to have paid £8m for the building.
The sale nearly collapsed late last year after Harvey Nichols, which Jarlaw had lined up to occupy the site, decided instead to open its first Scottish department store in Edinburgh, at St Andrews Square.
Jarlaw declined today to reveal its detailed plans, saying an announcement would be made next week but it is thought it intends to convert the front portion of the historic Glasgow building into a hotel and develop high quality retail at the rear. The site backs onto Ingram Street close to the Italian Centre, Glasgows most upmarket shopping area where Versace and Guess have shops.
Meridien is one of several hotel operators looking for sites in the city.
Gooch Webster acted for the Post Office.
EGi News 16/04/99
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