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Development opportunity for Edinburgh hotel for £6.5m

03 February 2015 by
Development opportunity for Edinburgh hotel for £6.5m

An opportunity to develop a 181-bedroom hotel in Springside, a new residential quarter in Edinburgh, is being offered for sale at £6.5m.

The seven-storey mid-market hotel, which will comprise a lounge, reception area, cafe and car park, will be located close to the Edinburgh International Conference Centre within Edinburgh's Commercial Exchange District.

Planning permission has already been granted for the development, subject to the signing of the Section 75 agreement.

Keith Dobson, director at Savills Edinburgh, which is marketing the site, said: "With significant residential development and landscaping under way, 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."

According to Savills, Edinburgh enjoyed a strong hotel performance last year , achieving over 90% occupancy at peak times.

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