Completion of sale of Glasgow freehold property
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
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 Centre, Austria (Franchise)
· Brussels Grand Place, Belgium
· Prague Charles Bridge, Czechia
· Lisbon Bairro Alto, Portugal
· Bratislava Presidential Palace, Slovakia
· Barcelona Passeig de Gracia, Spain
· Calpe Seafront, Spain (in development)
· Córdoba Mezquita Catedral, Spain
· Edinburgh Cowgate, UK (Franchise)
· London Elephant & Castle, UK
· London Kensington Holland Park, UK
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