Business
Completion of sale of Glasgow freehold property
Safestay plc has completed the sale of its freehold property and hostel, Safestay Glasgow Charing Cross, to an independent third-party investor for £5.1 million in cash. The net proceeds will be used to reduce debt, fund working capital, and strengthen the Group's balance sheet, aligning with its strategy to realize value from UK freehold assets and support an asset-light growth model. The company will no longer operate the Glasgow hostel, and it will cease to trade under the Safestay brand. Disclaimer*
About this update from Safestay Plc
1 July 2026 Safestay plc ("Safestay", the "Company" or the "Group") Completion of sale of Glasgow freehold property Further to its announcement of 1 June 2026, Safestay (AIM: SSTY), the owner and operator of an international brand of contemporary hostels, announces that the sale of its freehold property and hostel, Safestay Glasgow Charing Cross, to an independent third-party investor for cash consideration of £5.1 million has completed. The net proceeds will be used to repay indebtedness, for working capital purposes and to strengthen the Group's balance sheet, as previously announced. The Group will no longer operate the hostel at this site and the property will cease to trade under the Safestay brand. The transaction is consistent with the Group's previously announced strategy to crystallise value from certain UK freehold assets and support its asset-light growth strategy. ENDS Enquiries: Safestay PLC Larry Lipman Tel: +44 (0) 20 8815 1600 Shore Capital (Nomad & Broker) David Coaten/Harry Davies-Ball Tel: +44 (0) 20 7408 4090 Hudson Sandler (Financial PR) Alex Brennan/India Laidlaw Tel: +44 (0) 20 7796 4133 [email protected] For more information visit: Website www.safestay.com Instagram page www.instagram.com/safestayhostels/ About Safestay plc: Safestay PLC, one of Europe's largest hostel groups, operates in the exciting and growing hostel segment of the global hospitality market. Worth approximately US$6.53bn in 2026, it is estimated to grow to US$15.25bn by 2034 (The Market Data Forecast, 2025). Safestay's operational sites of 20 premium hostels and one hotel offer guests both private and shared rooms in destination cities across the UK, Spain, Belgium, Czech Republic, Greece, Italy, Poland, Portugal, Austria and Slovakia. Safestay's mission at each of its locations is to provide a safe, inclusive, and enjoyable space that caters to the needs of different travellers. Its properties offer first-class locations and thoughtful designs that cater for the different needs of travellers, from digital nomads to backpackers and from families to group travellers. Safestay's pan-European locations include: · Kitzbühel Alpine, Austria (Franchise) · Kitzbühel...