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Case Study

Sale in the heart of Edinburgh city

Jones Lang LaSalle Hotels were instructed to market the extensive collection of seven properties in close proximity to Waverley Station in the heart of Edinburgh city centre.
This was a Freehold sale in a highly attractive location, with easy access to Princes Street, Edinburgh Castle and the many tourist attractions the city has to offer as well as the new tram network.
JLL Development Land & Hotels teams worked together to ensure full market coverage was achieved. Marketing commenced in May 2010 at offers over £7.5 million. A closing date for offers was set. Twelve proposals to acquire the property were received and after due diligence the property was sold in April 2011.
The purchaser, the Chris Stewart Group, agreed a deal with Motel One to produce a £25m, 208 room hotel, creating a new and innovative hotel offering to the buoyant Edinburgh hotel market.

For more information, please contact Keith McBain, +44 141 567 6684.

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