Edinburgh hotel sale highlights strong investor interest
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The sale of an Edinburgh hotel highlights strong investor appetite to acquire quality properties in the Scottish market, an expert believes.
Ownership of the 100-bedroom Kings Manor Hotel, a short walk from Portobello beach, recently changed in an off-market deal.
Lindsays acted on behalf of Solley Hotels, which sold the venue to Edinburgh (Portobello) Hotel Limited for an undisclosed sum.
Alastair Smith, a director in Lindsays’ corporate department, who works with investors across the hotel and hospitality sector, was part of the firm’s team advising them.
He said: “The sale of the Kings Manor Hotel is reflective of the continued demand for high quality, privately-owned hotels in Scotland’s tourist hubs.
“As a firm, we have been involved in a variety of hotel sales in this sector.
“This was a sale which certainly demonstrates the resilience and buoyancy of the independent Scottish hotel market despite surrounding economic shocks.”
Other Lindsays lawyers involved in the deal were Kenny Gray, a partner in the commercial property department, and employment law partner Kate Wyatt.
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