Specialist business property adviser, Christie & Co, has completed on the sale of No. 53 Frederick Street, a boutique hotel set in the centre of Edinburgh’s New Town.
With 14 bedrooms providing 35 bed spaces plus a high quality one bed owner’s flat, this was a rare opportunity to acquire a first class business in a prime central Edinburgh location, close to St James Quarter and George Street.
The guest house has been developed over the past 20 years by David Tweedie and came to the market as he felt the time was right to hand over the reins to a small corporate operator or private investor to continue growing the business.
The new owner, Damien O’Looney is an expanding private investor who recently bought a second site nearby. He comments, “With the holiday market returning towards pre-pandemic levels, we are looking forward to many busy seasons ahead, welcoming guests to our new city centre guest house, which nicely complements our existing guest house around the corner at 45 Queen Street.”
Gary Witham, Hotels Director at Christie & Co who handled the sale, comments, “We were delighted to get this deal over the line and demonstrate there is ongoing buyer demand for high quality lodging businesses with strong trading fundamentals in central Edinburgh, despite a challenging operating environment. This is especially true where there is the opportunity to grow room count.”
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