The Caterer

Apex completes £54m sale-and-leaseback deal on two Edinburgh hotels

04 October 2006 by
Apex completes £54m sale-and-leaseback deal on two Edinburgh hotels

Apex Hotels has completed a £54m sale-and-leaseback of two Edinburgh hotels.

Northern Ireland property company WG Mitchell has taken over ownership of Apex International and Apex City, both on Edinburgh's Grassmarket, as part of the deal.

Apex said it would continue to trade as normal at the sites following a leaseback deal, and that the funds released would be used to further its expansion in the UK.

Apex, which operates in the four-star market, also owns and operates the Apex European in Edinburgh, the Apex City Quay in Dundee; and a fifth hotel on Seething Lane, Apex City of London hotel.

Norman Springford, chief executive, Apex Hotels>>

Apex City of London hotel>>

Tom Illic named as executive chef at Apex City>>

Apex Hotels profile>>

By Chris Druce

E-mail your comments to Chris Druce]( completes £54m sale-and-leaseback deal on two Edinburgh hotels) here.

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