Wednesday, March 05, 2024
Gladedale Capital has appoints DTZ Hospitality Group to Quartermile
The opportunity to create a luxury boutique hotel at the heart of the stunning Quartermile development in Edinburgh has hit the market.
Work to transform two B listed buildings, which date from circa 1900 and which were originally designed by architect Sydney Mitchell & Wilson, will shortly commence on the former site of Edinburgh Royal Infirmary.
Developer Gladedale Capital has appointed DTZ Hospitality Group to handle the sale of the hotel, which is expected to generate significant interest.
Colin MacPherson, Director at Gladedale Capital said: "Quartermile is now really taking shape and the addition of a hotel to the site demonstrates we are delivering on our pledge to transform the site into a true mixed-use development.
"This is an exciting opportunity for a luxury hotel operator to become a part of this fantastic redevelopment project.
"Quartermile is already proving popular with businesses, retailers and residents and a new hotel on site will ensure visitors from all over the world will now start to flock to the site."
The hotel is expected to open for business by summer 2010.
Richard Candey at DTZ Hospitality Group commented: "We have already observed significant interest for this opportunity, which demonstrates the great appetite for such investments, particularly in such a strong hotel market as Edinburgh.
"The scheme's quality and central location are key drivers for success."
The marketing of the boutique hotel comes hot on the heels of some significant activity at Quartermile.
High Street retail giants Sainsbury's and Starbucks have just agreed to take space at the development. These lettings come in the wake of the first retail tenant, Swedish baker Peter?s Yard, opening for business in November last year.
Meanwhile, the first residents have recently moved into Quartermile. More than 150 luxury apartments were sold in advance of the launch last year.
This latest development at Quartermile complements the 107 unit aparthotel on the site which will be operated as a Citadines by the Singapore-based Ascott Group once construction is concluded in late 2009.
Once completed in 2012, Quartermile will feature over 300,000 sq ft of premium office space, over 55,000 sq ft of retail and leisure space, more than 900 new and converted modern apartments and seven acres of landscaped gardens and public space.
Quartermile is a joint venture between Gladedale, one of UK's largest private property development and housebuilding groups and Bank of Scotland Corporate.
Work to transform two B listed buildings, which date from circa 1900 and which were originally designed by architect Sydney Mitchell & Wilson, will shortly commence on the former site of Edinburgh Royal Infirmary.
Developer Gladedale Capital has appointed DTZ Hospitality Group to handle the sale of the hotel, which is expected to generate significant interest.
Colin MacPherson, Director at Gladedale Capital said: "Quartermile is now really taking shape and the addition of a hotel to the site demonstrates we are delivering on our pledge to transform the site into a true mixed-use development.
"This is an exciting opportunity for a luxury hotel operator to become a part of this fantastic redevelopment project.
"Quartermile is already proving popular with businesses, retailers and residents and a new hotel on site will ensure visitors from all over the world will now start to flock to the site."
The hotel is expected to open for business by summer 2010.
Richard Candey at DTZ Hospitality Group commented: "We have already observed significant interest for this opportunity, which demonstrates the great appetite for such investments, particularly in such a strong hotel market as Edinburgh.
"The scheme's quality and central location are key drivers for success."
The marketing of the boutique hotel comes hot on the heels of some significant activity at Quartermile.
High Street retail giants Sainsbury's and Starbucks have just agreed to take space at the development. These lettings come in the wake of the first retail tenant, Swedish baker Peter?s Yard, opening for business in November last year.
Meanwhile, the first residents have recently moved into Quartermile. More than 150 luxury apartments were sold in advance of the launch last year.
This latest development at Quartermile complements the 107 unit aparthotel on the site which will be operated as a Citadines by the Singapore-based Ascott Group once construction is concluded in late 2009.
Once completed in 2012, Quartermile will feature over 300,000 sq ft of premium office space, over 55,000 sq ft of retail and leisure space, more than 900 new and converted modern apartments and seven acres of landscaped gardens and public space.
Quartermile is a joint venture between Gladedale, one of UK's largest private property development and housebuilding groups and Bank of Scotland Corporate.
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