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Major city hotel is placed on market

A PROMINENT Edinburgh city centre hotel which trades under the Doubletree by Hilton brand has been put on the market.

Property agent CBRE Hotels EMEA has been instructed to sell the building, which formerly traded as The Point Hotel, on behalf of a private seller.

It has presented the sale as a rare opportunity to acquire a business trading under a globally-known brand in addition to a freehold property.

The hotel, based in Bread Street, which runs between Lothian Road and the historic Grassmarket, has recently been refurbished.

It includes 138 bedrooms and suites and an extensive food and drink offer featuring the Bread Street Brasserie and the Monboddo Bar.

The penthouse suite, which offers views of Edinburgh Castle and the city centre, is widely used for weddings, launches and corporate events.

Other facilities at the hotel include three meeting rooms and a penthouse suite meeting area.

CBRE said that also included in the sale is the freehold title to the Chanter pub on the ground floor and basement.

It is currently let to a tenant at a rent of £87,500 per annum.

Paul Collins of London-headquartered CBRE Hotels EMEA, said: "This is a prime Edinburgh asset, located in the heart of the city centre and with one of the best brands in the hotel sector behind it.

"We are expecting significant interest from investors who want to take advantage of both the strength of the Edinburgh hotel market and the opportunity to grow a world-class business such as this."

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