THE firm behind plans to create a 20-storey high-rise of serviced apartments, with a glass rooftop restaurant and cocktail bar overlooking the Clyde in Glasgow, has gone into administration.
Citihome Glasgow Limited had planned to develop a 204-bed complex on the corner of Dixon Street and Clyde Street after it was approved by Glasgow City Council in 2017.
Planning permission to erect the serviced apartments included a ground floor with a ground-floor restaurant, café and gym, along with a rooftop bar which was proposed to sit on level 20 of the building.
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However, Citihome Glasgow fell into administration last week, with Asher Miller and Stephen Katz of Begbies Traynor appointed as joint administrators.
According to accounts for the year to September 2024, the company’s assets totalled around £6.5 million, but net liabilities exceeded £225,000.
Despite administrators being appointed, Citihome Glasgow’s website still has a section dedicated to “investors” where it claims those who do invest with the firm will “get much more than just a name”.
The post continues: “As an established hospitality company, we have the necessary resources already in place to ensure your Aparthotel or Serviced Apartment receives the best exposure possible.”
The firm had boasted its building design would be “sleek” and “modern”, which would “stand out among the crowds”, while offering “contemporary apartment style” hotel accommodation.
The application to demolish an existing three-storey building facing the La Paionaira monument at the site for the development was sent to Scottish Ministers following objections from Historic Environment Scotland and SPT.
But, in a letter in November 2019, the Scottish Government confirmed it would not be intervening in the application and authorised the council to deal with the proposal as it desired.
The plans were later approved with the document lodged with the council saying the “proposed building replaces an unlisted building of minimal architectural merit with a landmark building of significant architectural quality.
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It added: “The rooftop lantern restaurant bar & sky deck offers a unique visitor experience in the conservation area and offers exciting views across Glasgow.
“The character of the Public Realm will be enhanced by active uses at Ground Floor Level and creating a safe and pleasant route to the riverfront.”
Citihome Glasgow and Begbies Traynor have both been approached for comment.
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