Two Edinburgh hotels for sale for £5m

02 September 2010 by
Two Edinburgh hotels for sale for £5m

Dunstane House and Dunstane City Hotel in Edinburgh have been put on the market for a price in excess of £5m.

The two properties, which are located on either side of the main road between Haymarket Station and Murrayfield, are being offered for sale in conjunction with a four-bedroom owner's residence.

Currently owned by Derek and Shirley Mowat, who have run the hotels since 1998, the properties comprise a total of 34 letting bedrooms, bars, restaurants, meeting rooms and staff accommodation.

Derek Mowat said that he and his wife had enjoyed building up the hotels to be a fantastic business. "It has, however, almost outgrown us and I now feel that, due to its size, it would probably be better to be part of a bigger company," he said.

"While we have decided to include our own home as it could be part of a new owner's growth plan, we would also be very happy not to include the house in the sale as we have thoroughly enjoyed living in this terrific part of the city."

David Reid, partner at Knight Frank, which is handling the sale of the hotels, said it was rare for such quality hotels in Edinburgh to come on the open market. "I would be surprised if there was not keen interest from hoteliers, developers and overseas investors," he said.

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By Janet Harmer

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