Major hotel development for Royal Exchange Square

20 Feb 2013

A prominent Glasgow businessman has submitted his latest proposals for a major £25 million development within the heart of the city centre.

Leisure and property millionaire James Mortimer's vision for the historic Royal Exchange Square includes a hotel with more than 100 beds, high-end retail units, bars, restaurants and a casino.

The plans lodged with the city council have been amended from previous proposals - with the hotel reduced from 11 floors to seven following a mixed response from official bodies who were consulted.

It is the latest phase in an £80m, decade-long project to revamp properties in the square - which also houses the Gallery of Modern Art - and is said by Mr Mortimer's company to be based on the acclaimed Fünf Höfe in Munich.

It will see the demolition of several B-listed properties within the block - which dates back to the mid-1800s - although the facades will be retained.

A major element of the scheme will be to utilise the alleys and lanes which connect Buchanan Street and Queen Street, and it proposes to "unlock a route north/south from Royal Exchange Square to Princes Square and attract footfall into the depth of the site with the location of a new retail arcade and the hotel entrance at the heart of the development".

The aim is to attract one of London's leading fashion retailers to the area.

Source: The Herald - James Mortimer submits £25m development plans