A POPULAR hotspot in the centre of Glasgow could be sold in a £10million deal.

Merchant Square which attracts thousands of revellers each week is at the centre of a tug-of-war involving at least three potential buyers.

The venue is home to various pubs and restaurants.

The square opened 15 years ago following a revamp, when the owners controversially closed down the venue's weekly indoor markets.

Owned by Merchant City Properties, the Candleriggs venue in Albion Street is not up for sale.

But managing director Kevin Macguire said: "In the past few months we have had unsolicited approaches from several companies who would like to acquire Merchant Square.

"However, it's fair to say that every asset has a price and if the right price is made then we would sell.

"At the moment it would be premature to say the square has been sold."

But Mr Macguire confirmed there were ongoing talks with a number of interested parties.

He said: "We are in discussions with several agents."

The businessman refused to divulge the selling price but it's believed to be around £10m.

It's not known just how advanced negotiations are but it's thought a deal could be concluded in just a few weeks given the level of competition from potential rival buyers.

The square is not just known for its booming night time leisure economy.

It has been used in the past as a focal point for sports enthusiasts.

Just the other week it hosted an official Ryder Cup fan zone and each weekend it hosts a craft and design fair.

gordon.thomson@ eveningtimes.co.uk