The City Chambers, Kelvingrove Art Gallery and Museum and the Kelvin Hall are to be sold to pay for the final settlement of Glasgow’s equal pay…
is selling the City Chambers, Kelvingrove, the Kelvin Hall, Gallery of Modern Art and two new schools to council-owned City Property and will lease them back for an annual cost.
The 2019 deal was financed through a sale-and-lease-back arrangement, with wholly-owned arm’s-length company City Property Glasgow Investments LLP borrowing to purchase a portfolio of operational buildings from the Council, then leasing them back.Elaine Galletley, director of finance, said in a report to councillors: “All operational activity carried out at these establishments will continue as normal and will not be affected by the sale and leaseback proposals.
Susan Aitken, leader of the council, said: “Kelvingrove and the Kelvin Hall are also extremely close to Glaswegians as were many in the first tranche.
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