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THE SCOTSMAN A TRULY LANDMARK FIVE STAR BOUTIQUE HOTEL On the joint instructions of The White Elephant Preservation Company (Scotsman) Ltd. Remuneration Trust and Scotsman Edinburgh Company (In Liquidation), JLL Hotels & Hospitality Group and CBRE Hotels are delighted to present THE SCOTSMAN the iconic Scotsman Hotel, Edinburgh for sale. 2 THE SCOTSMAN • A truly landmark five star boutique hotel • Trophy A-Listed building dating from 1905 – tastefully converted to a hotel in 2001, preserving and enhancing period features throughout • Central Edinburgh location in close proximity to the world famous Royal Mile and overlooking Edinburgh Castle, Firth of Forth, Princes Street and Carlton Hill • Heritable (Freehold) tenure • Available with vacant possession – free and clear of branding and management • 69 spacious bedrooms with the majority boasting an area over 34 m2 (minimum area of 28 m2) • 72 seat North Bridge Bar and Brasserie • 20,000 sq ft Scotsman Spa and Health Club • Eight meeting rooms providing in excess of 700 m² and a 46 seat private screening room • Significant asset management potential and ability to add additional bedrooms 3 THE EDINBURGH HOTEL MARKET Edinburgh is a major tourism centre in the UK and gateway to the rest of Scotland. Around four million visitors a year inject £1.32 billion into the local economy which has a multiple award-winning reputation as one of the most attractive destinations in the world, with an ideal mix of shopping, culture, music, heritage and leisure facilities. The Scottish capital city and a well-established and successful centre for finance, business and tourism, is one of the UK’s best connected cities benefiting from a modern efficient transport and communications network linking it with the rest of the UK, Europe and beyond. As one of the strongest economies and largest financial centres outside of London, the city is home to a vast range of corporate occupiers and home to more FTSE 100 companies than any other regional UK city. Edinburgh is the world’s festival capital, with 12 international festivals and a host of other major events throughout the year. They include the Edinburgh International Festival, Edinburgh International Science Festival, International Film Festival, International Book Festival, the Edinburgh Military Tattoo, Edinburgh’s Christmas and Hogmanay and the Edinburgh Festival Fringe, the largest arts festival in the world. 4 EXCEPTIONAL LOCATION The Scotsman Hotel occupies a strategic position at the cultural heart of one of the most buoyant and sought after hotel markets in Europe. Located on North Bridge less than a minutes’ walk from the world famous Royal Mile (also known as High Street) within the heart of Edinburgh’s historic Old Town, which has been designated a UNESCO world heritage site. Benefiting from excellent connectivity the hotel is located immediately adjacent to Waverley Station, Edinburgh’s main railway station, and is in close proximity to the Edinburgh tram network which links the city centre to the Airport in under 30 minutes. 5 Edinburgh’s compact city centre offers a wide variety of retailers, with large UK multiples located along 1 Edinburgh Castle 8 Princes Street Gardens Princes Street as well as premium boutique designer brands located on both George Street and Multrees Walk. As one of the most prosperous cities outside of London, brands such as Burberry, Louis Vuitton 2 Royal Mile 9 Scott Monument and Mulberry are all present, as are key high street retailers such as Apple, House of Fraser and John 3 North Bridge 10 Princes Street Lewis. Harvey Nichols, the premium department store, sits in the heart of the city overlooking St Andrew 4 Waverly Train Station 11 George Street THE SCOTSMAN Square, while the St James Centre which is scheduled to be significantly redeveloped as part of the wider Edinburgh St James development, sits to the east of Princes Street and will significantly enhance the 5 The Balmoral Hotel 12 Harvey Nichols city’s retail offering once complete. 6 Jenners 13 Edinburgh St James 7 St Andrews Square 1 11 8 10 9 7 6 12 13 4 2 5 3 6 KEY ACCOLADES RD ND 3 BEST MOST POPULAR UK CITY AFTER LONDON 2 MOST UK’S SAFEST DESTINATION CITY IN THE UK TO IN SURVERY ACROSS THE NATION FOR HOSTING INTERNATIONAL ASSOCIATION MEETINGS AND TECH SAVY UK TOWN LIVE AND WORK RATED 21 IN THE TOP 50 EUROPEAN CITY RANKING (Google eTown Awards 2013) (YouGov 2014) (2014 Good Growth for (ICCA 2013) Cities index) ONE OF THE BEST MID-SIZE EUROPE’S TOP 10 BEST PLACE VOTED NAMED LEADING DESTINATION CITIES TO VISIT NAMED EUROPEN CITY VOTED (World Travel Awards 2012) (Wanderlust Travel Awards 2014) TO LIVE IN THE UK (Financial Times fDi Magazine 2014) (YouGov 2013) FAVOURITE BEST FOREIGN DIRECT th ST UK CITY FOR 13 INVESTMENT STRATEGY 1 FOR CONVENTION EDINBURGH NAMED VOTED CONSECUTIVE YEAR NAMED - MID-SIZED-CITY BRITAIN’S BEST TEN FINALIST IN BEST UK CONVENTION BUREAU (Guardian/Observer Readers’ Travellers (Financial Times fDi Magazine 2014) Awards 2012) CITIES’ AWARDS (Meeting and Incentive Travel Awards 2015) (Telegraph 2014) BEST BEST AIRPORT OF THE YEAR 2ND BEST IN EUROPE EDINBURGH UNIVERSITY WAS VOTED UK CITY TH NAMED CONSECUTIVE YEAR EDINBURGH AIRPORT RANKED 17 IN THE WORLD (Telegraph Travel Awards 2012) (Scottish Transport Awards 2014) (ACI EUROPE Best Airport (QS World Rankings 2014) Awards 2013) 7 ICONIC ASSET The Scotsman Hotel is formed within a Category A listed building which dates from 1905 and is the former printing works and head office of the Scotsman newspaper until it was converted to a hotel in 2001. It is an iconic feature of Edinburgh’s renowned UNESCO World Heritage skyline and is recognised as one of the city’s landmark buildings. The property’s heritage is evident in its design and layout. The hotel benefits from street level access from both North Bridge and Market Street, directly opposite Waverly train station. The hotel retains many of the building’s original architectural features. Most notably are the property’s Renaissance style turrets, luxurious marble staircase and columns which combine with ornate timber panelling, original cornicing and stained glass windows to create one of the city’s most attractive and distinctive buildings. 8 9 HOTEL FEATURES GUESTROOMS The hotel’s 69 guest rooms and suites provide some of the most generously proportioned accommodation in Edinburgh. Retaining many of the original architecture and fittings they capture the historic nature of the property whilst providing guests with the modern amenities expected by the discerning traveller. The Penthouse offers two dedicated floors. The ground floor provides its own private dining area, library, lounge and study area. There is also a spiral staircase leading to the mezzanine level with bathroom, a large private sauna and views across Edinburgh Castle and the city streetscape. TYPE NUMBER AVERAGE SIZE (SQ. M.) Study Room 12 28 Deluxe Room 31 34 Editor Room 12 40 Publisher and Director Suite 12 52 Baron Suite 1 68 Penthouse 1 108 TOTAL 69 Source: Hotel Management 10 NORTH BRIDGE BRASSERIE North Bridge Brasserie has been created from the newspaper’s former reception hall where traders and merchants would buy copies of the newspaper or place their local advertising. The brasserie serves modern Scottish cuisine with seasonal menus focussing on ingredients of the highest quality. Signature dishes at the restaurant include Scotsman style haggis, neeps and tatties with Glenfiddich single malt whisky jelly and hot chocolate mousse with toasted marshmallow ice cream and crunchy melt rocks. The brasserie is well utilised by residents and non-residents alike given its prominent location on North Bridge making it particularly popular with the city’s numerous tourists. The brasserie also serves as the Hotel’s breakfast room. TYPE COVERS North Bridge Brasserie 72 Source: Hotel Management 11 CONFERENCE AND MEETING FACILITIES The Scotsman Hotel provides an exclusive setting for corporate events and the hotel benefits from seven dedicated areas including function suites, a boardroom, drawing room as well as a unique private screening room. AREA BOARDROOM THEATRE BANQUET COCKTAIL (SQ.M.) The Screening Room 90 46 The Boardroom 24 12 The Drawing Room 90 20 60 40 100 The Russell Suite 157 38 100 64 100 The Club Room 157 26 80 64 100 The MacLaren Suite 123 100 200 The Linklater Suite 93 35 70 40 100 Source: Hotel Management The Vermillion Lounge, which is also known as the Guest Lounge, can double as a drinks reception space or break out area. The Linklater Suite benefits from a dedicated private courtyard with patio seating for 20. The Linklater Suite can sub-divide into three separate rooms. Both the Linklater Suite and Russell Suite and popular wedding venues. The MacLaren Suite can sub-divide into four separate areas and is frequently used to host evening receptions, larger dinners and benefits from panoramic views over Princes Street Gardens to Princes Street and beyond. The Screening Room is a unique facility providing the ability to host product launches and private screenings. 12 The Scotsman Spa and Health Club The Scotsman Spa and Health Club provides 20,000 sq. ft. of gym, spa and café facilities which available to residents and popular with external members given its dedicated entrance. The spa and health club has partnered with Aveda who provide a range of luxurious products and treatments. The gym has a unique 16m stainless steel swimming pool, Jacuzzi, steam room and tropicarium. The gym contains extensive aerobic stations with Cybex, Life Fitness and Concept 2 equipment. There is also a free weights area and a studio room for spin, yoga and fitness classes. There are four treatment rooms providing facials, body treatments, massages and manicures and pedicures. 13 TENURE The heritable (Scottish equivalent of freehold) interest of the property is available free and clear of branding, management or under-leases by means of an asset sale.
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