The Caterer

Edinburgh Hilton hotel leasehold sold

20 July 2005
Edinburgh Hilton hotel leasehold sold

The leasehold of the Hilton hotel at Edinburgh Airport has been sold to a mystery private investor for around £8m, it was announced today.

The new owner, whose identity hasn't been revealed, is based outside the UK and declined to comment on the deal.

BAA Lynton manages £801m of assets including the Hilton site on behalf of the Airport Hotels Partnership, which is a joint venture between Morley Fund Management and BAA.

BAA Lynton's managing director John O'Halloran said: "This is a rare opportunity to secure a hotel ground lease investment where the virtual freehold provides income directly linked to the turnover of the hotel - one which has seen trading performance year-on-year since its opening in 1996."

Property agent Jones Lang LaSalle handled the sale.

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