HOTEL developer Dominvs Group has bought a prime site for development in Glasgow city centre for a price in excess of £3 million.
The company has acquired the freehold interest in 47 Old Wynd with "a view to exploring a range of potential uses", it said in a statement.
The one-acre site which is currently used as a car park is situated at the corner of Osborne Street and Old Wynd.
The site is close to shopping centres and the high street as well as transport hubs.
The group which also develops homes is planning to take on more sites in the city, it said.
Lee Saywack, development director of Dominvs Group, said: “St Enoch Centre shopping Mall and underground station are a stone’s throw from this prime city centre development opportunity, along with a wealth of historic and leisure attractions.
“The site has huge development potential for a number of uses and we are currently looking at all options for redevelopment.
"We continue to be on the lookout for further opportunities in Glasgow and all key regional growth markets.”
The London-based group has 15 projects in the pipeline including the conversion of the former Tower Bridge Magistrates Court into the company's first Marriott-branded property.
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