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Ground lease for Courtyard by Marriott Edinburgh sold for £23m

24 April 2017 by

The 150-year ground lease of the 240-bedroom Courtyard by Marriott Edinburgh has been acquired by property investment company M&G Real Estate for £23m.

Located at Baxter's Place, the hotel was developed across three category A-listed Georgian townhouses with a contemporary extension at the rear by Chris Stewart Group and opened in late 2016.

It features an all-day brasserie, fitness centre and meeting room.

Chris Stewart, chief executive of Chris Stewart Group said: "We are delighted to have agreed terms with M&G Real Estate for the ground lease of the Courtyard Edinburgh hotel and we look forward to working with them again in the future."

Shailendra Shah, investment manager, M&G Real Estate, said that the deal, which boosts the company's

"This investment helps to meet the demand from institutional investors for long- term income with security that increases in line with inflation."

Courtyard by Marriott to be managed by Redefine | BDL >>

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Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

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