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Osborne House STRATEGIC HOTEL DEVELOPMENT OPPORTUNITY OSBORNE PLANNING CONSENT HOUSE FOR 157 BED HOTEL 1 OSBORNE TERRACE EDINBURGH EH12 5HG PLAY VIDEO OSBORNE HOUSE OSBORNE SUMMARY 1 Osborne T HOTEL OPPORTUNITY errace LEASEHOLD OR | DESIGN & BUILD Edinburgh | EH12 5HG EH12 PROPOSED GIA: 6,028 SQM (64,885 SQFT) OPPOSITE DONALDSON’S LOCATED IN HAYMARKET SCHOOL RESIDENTIAL AREA OF THE CITY DEVELOPMENT PLANNING CONSENT FOR 157 BEDS WITH ANCILLARY RESTAURANT & BAR (FULL PACK OF INFORMATION AVAILABLE) 5 MINS WALK TO HAYMARKET STATION WALK TO MURRAYFIELD STADIUM (LARGEST STADIUM IN 10 MINS SCOTLAND WITH 67,800 SEATS) 15 MINS WALK INTO THE CITY CENTRE 2 OSBORNE HOUSE OSBORNE EDINBURGH KEY FACTS HEADQUARTERS TO ABERDEEN STANDARD 1 Osborne T INVESTMENTS, RBS, EDINBURGH IS HOME SAINSBURY’S BANK, BAILLIE TO THE SCOTTISH GIFFORD, MARTIN CURRIE. errace | GOVERNMENT AND Edinburgh | PROUDLY HOSTS UK’S LARGEST REGIONAL FINANCIAL 5HG EH12 CENTRE. OVER 30 BANKS TWO UNESCO WORLD OPERATIONAL WITH £500BN OF HERITAGE SITES. ASSETS UNDER MANAGEMENT. MOST VISITED CITY IN THE UK OUTSIDE LONDON WITH 3.5M ANNUAL TOURISTS. EDINBURGH IS THE CAPITAL CITY OF SCOTLAND THE UNIVERSITY OF EDINBURGH IS RANKED 1ST IN SCOTLAND AND 6TH IN THE UK. CITY POPULATION OF 513,000 AND CITY REGION POPULATION OF 1.36M EDINBURGH HAS THE HIGHEST GVA PER CAPITA AND AVERAGE DISPOSABLE INCOME PER THE CITY IS RECOGNISED GLOBALLY RESIDENT OF ALL UK CITIES. AS A FINANCIAL CENTRE WITH A CONSIDERABLE NUMBER OF FINANCIAL INSTITUTIONS LOCATED HERE BAILLIE GIFFORD DUE TO OPEN THEIR NEW 280,000 SQFT HQ BUILDING AT HOTEL OCCUPANCY HAYMARKET IN 2023. IN 2019 WAS 85% 3 LOCAL OCCUPIERS 1. Haymarket Hub 2. Proposed Intercontinental Hotel (2023) and Baillie Gifford HQ (26,000 sqm) 3. Leonardo 4. The Hub by Premier Inn 5. Point A 6. EICC 7. Sheraton Grand 8. Rutland Hotel 9. Waldorf Astoria 10. Premier Inn 11. Kimpton 12. Tiger Lilly 13. Yotel 14. The Hub by Premier Inn 15. Travelodge OSBORNE HOUSE OSBORNE EDINBURGH LOCAL OCCUPIERS 1. Apex Haymarket 2. Apex 123 3. ICAS 4. Royal London 1 Osborne T 10-15 MINUTE 5. HM Revenue & Customs 6. COSLA 7. City Point Waverley WALK TO THE CITY 8. Roseberry House Station errace 9. Haymarket Hub 10. Proposed Intercontinental Hotel (2023) 23 | CENTRE AMENITIES. and Baillie Gifford HQ (26,000 sqm) 20 22 Edinburgh 11. Leonardo 21 18 12. Hub by Premier Inn 19 13. Point A | 14. EICC 17 5HG EH12 EDINBURGH AIRPORT IS LOCATED 15. Sheraton Grand 16 6 MILES WEST OF THE PROPERTY. 16. Rutland Hotel 15 17. Waldorf Astoria 18. Premier Inn 19. Kimpton 14 20. Tiger Lilly 13 21. Yotel 12 EXCELLENT RAIL LINKS FROM 22. Hub by Premier Inn HAYMARKET STATION. 23. Travelodge 11 10 TRAINS EVERY 15 MINUTES TO AND OSBORNE 9 FROM GLASGOW AND ONE STOP TO WAVERLEY STATION WITH TRAINS TO HOUSE Haymarket Station LONDON EVERY 30 MINUTES. 8 7 1 6 TRAM STOP NEARBY WITH DIRECT FAST LINK TO THE 2 AIRPORT EVERY 7 MINUTES. 5 4 ROAD AND BUS LINKS TO THE CITY. 3 Tram Stop 4 OSBORNE HOUSE OSBORNE EDINBURGH EDINBURGH IS 1 Osborne T IDENTIFIED AS errace | ONE OF THE MOST Edinburgh PROSPEROUS | AREAS OF THE UK. 5HG EH12 With in excess of 513,000 people and one of the fastest growing populations in the UK, the city of Edinburgh has a strong economy balancing financial and business services with software, biotechnology and creative industries. Edinburgh is world famous for The Festival Fringe and International Festival taking place annually and contributing to around 4 million visitors each year, earning it the accolade of second most visited city in the UK. In addition to business and finance, the The property is situated in the Haymarket Edinburgh City Region is home to four area on one of the main arterial routes into universities and three further education Edinburgh and has immediate access to colleges with in excess of 60,000 students. tram stops and a mainline rail station at MINUTES Haymarket. A £350m development is also underway at Haymarket due to deliver 35,000 sqm of Grade A offices, of which WALK FROM 26,000 sqm will be taken by Baillie Gifford for their new HQ and and a 365 bed hotel SCOTLAND’S operated by Intercontinental Hotels. LARGEST Another exciting development due to open shortly is the £850m Edinburgh STADIUM. St James Quarter with retail space, restaurants, cinema, hotel and residential accommodation comprising 79,000 sqm. 5 EDINBURGH HOTEL MARKET TOURISM TRENDS HOTEL SUPPLY TRENDS HOTEL PERFORMANCE TRENDS Edinburgh has enjoyed steady tourism The market has proven to be highly growth for several years. Domestic EDINBURGH HAS THE 3RD resilient to economic downturns and tourism has been broadly stable with LARGEST HOTEL SUPPLY IN performance recovered fast following some 2.5m visitors, contributing around the 2008/12 recession, thanks to a well- 6m overnight stays and spending £700m THE UK AFTER LONDON AND diversified demand base and robustness every year. Overseas travellers are a of the economic fundamentals. key driver, staying 5 days on average MANCHESTER. and spending over £500 per trip (nearly OCCUPANCY HAD BEEN The last 10-year CAGR indicates a 3% twice the stay and spend per trip of growth in rooms supply, whilst the domestic visitors), with a total spend of CONSISTENTLY ABOVE 80% number of hotels grew by 1% CAGR £1.2bn in 2019, a 10% YoY increase. over the same period, as opened hotels BETWEEN 2013-2019, WITH OVER THE LAST FIVE have been both larger and branded. STRONG GROWTH IN ADR. In the last 10 years the Economy segment YEARS, INTERNATIONAL grew by a 6.6% CAGR, with most of rooms May to October is generally the peak period, opening after 2012. Key openings in this largely driven by conferences and high- OVERNIGHTS AND segment were primarily by Premier Inn profile leisure events such as the International EXPENDITURE HAD GROWN (incl. hub by Premier Inn) and Travelodge. Festival and Fringe Festival, while January and February are typically the periods of The market is divided evenly between BY A CAGR OF 8.8% AND low demand. March to April and November various hotel categories catering to the to December are shoulder seasons, driven wide-ranging needs of visitors, with Upper 10.4% RESPECTIVELY. by various events such as the Science Midscale taking up the most (24% of Festival, Christmas events and Hogmanay. The US is Edinburgh’s largest room supply), followed by Upper Upscale source market with 461k visitors in (19%), Upscale (18%) and Economy (17%). 2019, followed by Germany (194k), Notably, 43% of room supply is Upscale or France (171k) and China (148k) above, making this city known for its high- end hotel offering recording the second Holiday visits are the main purpose of highest ADR in the UK, after London. visiting Edinburgh with 72% internationally and 53% domestically. The busy The market is also highly branded (77% conference and festival calendar, historic of room supply). Premier Inn is the buildings and financial institutions largest brand in the city with 9 hotels, make the city a popular destination accounting for 6% of room supply, followed for business and leisure visitors. by Travelodge (5%) and Apex (3%). OSBORNE HOUSE OSBORNE THE DEVELOPMENT TENURE S Harrison Developments are in a position to offer a lease on Full Repairing and Insuring OSBORNE HOUSE terms to suitable occupiers or alternatively ACCOMMODATION 1 Osborne T offer a turnkey / design & build option IS CURRENTLY AN SCHEDULE for purchase on Heritable (Scottish legal equivalent of English Freehold) terms. errace OFFICE BUILDING Floor Bedrooms Proposed GIA Lower Ground 21 1035 | OF SOME 3,273 SQM. Edinburgh Ground 18 1320 PLANNING S Harrison Developments have secured planning First 42 1303 | EH12 5HG EH12 consent for an extension to the property to create Second 30 941 Following the acquisition of the property, some 6,028 sqm (64,885 sqft) to accommodate Third 25 790 planning consent for a 157 bed hotel with bar a 157 bed hotel with restaurant and bar facilities. & restaurant uses at ground floor was secured. Fourth 21 639 The proposed floor plans can be viewedhere . Additional land bought to the immediate NB: In addition, S Harrison Developments have Total 157 6028 south of the property may allow for further acquired adjacent land for further expansion expansion and increased room numbers (outlined in blue) with potential for a further 48 (subject to securing the relevant consents). rooms which may be of interest to occupiers. The planning information is available on the City of Edinburgh planning portal using the following link reference 18/02976_FUL. Further information is available upon request from the joint sole agents. TIMESCALE To be agreed. The property has the POTENTIAL benefit of vacant possession and is EXTENSION ready for immediate development, TWS 1200 x 700 subject to agreeing specification and any relevant statutory consents. 8105 1045 10350 4400 7 OSBORNE HOUSE OSBORNE THE DEVELOPER BESPOKE, INNOVATIVE 1 Osborne T SOLUTIONS THAT EXCEED errace EXPECTATIONS OF OUR | CLIENTS AND PARTNERS. Edinburgh S Harrison Developments is a company | Malmaison, Edinburgh 5HG EH12 with a national reputation as a provider of bespoke, innovative solutions that exceed the expectations of its clients and partners. Founded by the late Stanley Harrison in 1952 and with a background in construction, the development business is respected for its quality and on-time/on-budget delivery. In recent years, Harrison has been particularly active in the hospitality and student residential sectors delivering new build and regeneration schemes for Malmaison, Hotel du Vin, Indigo, Hampton by Hilton and Premier Inn among others. Further details are available at Premier Inn, Lichfield Hampton by Hilton, York www.s-harrison.co.uk Hotel du Vin, Stratford upon Avon Indigo, York 8 FURTHER INFORMATION For further information please contact the joint sole agents: John Conroy M: 07979 494915 E: [email protected] Jon Patrick M: 07831 263529 E: [email protected] Ryden is a limited liability partnership registered in Scotland.
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