Christie & Co and Rydens to lead Edinburgh hotel development
On behalf of S. Harrison Developments, specialist hospitality property advisers, Christie & Co and Ryden have been instructed to bring to the market Osborne House in Edinburgh.
Prominently situated in the Haymarket area of the city, Osborne House has the benefit of detailed planning consent for the development of a 157- bedroom hotel involving the repurposing of the existing, on-site offices, together with sensitive areas of new-build structure.
The total scheme will deliver a gross internal floor area of 6,028 sq m (64,885 sq ft), whilst a potential second phase may be available in due course which could enhance the level of accommodation.
Osborne House benefits from excellent connectivity being approximately 5 minutes’ walk to Haymarket Station, 10 minutes to Murrayfield, with city centre amenities within 10-15 minutes’ walk of the property.
With nearby bus and tram stops on the doorstep, as well as superb train communications afforded via both Haymarket and Waverley stations and the city’s airport some 6 miles to the west of the property, Osborne House is very well located to serve both business and leisure visitors.
The intention will be to work with potential end user operators and investors to deliver a turnkey solution on either a lease or alternatively, Heritable (Scottish legal equivalent of English Freehold) terms.
Ann Scott, Managing Director of S Harrison Developments comments, “Having delivered the sensitive conversion of Buchan House on St Andrew Square for Malmaison’s boutique hotel brand as well as bringing forward a number of successful student accommodation schemes in the city, Edinburgh is a city we are very pleased to be working in again. We always approach the development process from a collaborative perspective and aim to deliver schemes of exceptional quality for both owners and operators.”
Jon Patrick, Head of Leisure & Development at Christie & Co adds, “Edinburgh hospitality development opportunities are relatively few and far between and having a property with the benefit of an existing planning consent is therefore a bonus. Over the last few years we have witnessed an increase in the number of both domestic and international aparthotel and serviced apartment brands targeting expansion in the UK. This particular segment of the hospitality sector has fared well during the pandemic, and we envisage strong demand from extended stay operators as well as a wide variety of select service brands.”
Ford Swanson, Investment & Finance Partner at Ryden concludes, “Edinburgh is one of the most prosperous areas of the UK. We have a strong economy with an excellent balance of financial and business services, together with software, biotechnology and creative industries. We’re looking forward to welcoming back the renowned Festival Fringe and International Festival and being the second most visited city outside of London is a major factor in driving hospitality investment in the city from which we envisage Osborne House will benefit.”
Bronte Hughes, Corporate Communications Executive
P: +44 (0) 7721 420 656 or E: bronte.hughes@christie.com
