International real estate advisor Savills, on behalf of Grosvenor, has launched a full service hotel development opportunity at Springside, in Edinburgh, offered for sale at a guide price of £6.5 million. The hotel will be the latest phase in an ongoing mixed-use development by Grosvenor at Springside.
In addition to 181 bedrooms, the proposed seven storey hotel will comprise lounge, dining and reception area, a cafe and car park.
Situated within Edinburgh’s Commercial Exchange District, and half a mile from Haymarket railway station, the development is well located for many of the Capital’s key corporate occupiers as well as the world-class Edinburgh International Conference Centre. The site also boasts close proximity to some of the cities most famous landmarks.
Planning has been granted subject to the signing of the Section 75 agreement.
Keith Dobson, director in Savills Edinburgh, comments: “With significant residential development and landscaping underway, and the addition of high quality commercial accommodation in the future, Springside is set to become a new urban quarter in Edinburgh and a prime location for a four star hotel.”
Robin Blacklock, Project Director at Grosvenor, says: “Fountainbridge is undergoing an exciting revival and this high-quality hotel opportunity at Springside will only add to this. Located close to the city centre, the Union Canal and Haymarket Station, the area has a number of developments underway and in the pipeline that will add to this vibrant quarter and enhance the area as an attractive destination for people who want to visit, live and work in Edinburgh.”
According to research by Savills, Edinburgh is one of the UK’s leading hotel markets, achieving over 90% occupancy at peak times in 2014.
For more information click here