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The Cannongate, Edinburgh

under offer

Hospitality building for sale

£8,000,000 17,500 sq ft

Knight Frank LLP
Status
Under offer
Highlights
  • Unique opportunity to acquire a luxury, 21-bedroom boutique apart-hotel located in the centre of Edinburgh’s historic Old Town, EH8 8BH.
  • The former C-listed Victorian schoolhouse will benefit from commercial premises, across two floors, (class 3) ideal for a restaurant, bar and terrace.
Property type

Hospitality building for sale

Full address
New St, Edinburgh EH8 8BH – Edinburgh
Asking price
£8,000,000
Available space range
There is 1 space available. This measures 17,500 sq ft.
Features
Restaurant, Kitchen, Reception
Brochure
Download the brochure

Sale details

Sale unit 3980345 Under offer

17,500 sq ft, £457.14 per sq ft, available now

Unit Sale unit 3980345
Address New St, Edinburgh, Edinburgh City, EH8 8BH, GB
Size 17,500 sq ft
Price £8,000,000
Price per unit £457.14 per sq ft
  • Our client is seeking offers in excess of £8,000,000 plus vat for the purchase of the canongate.
  • This would include a fully completed (unfurnished) apart-hotel, consisting of 21 high end hotel apartments, as well as fully serviced, shell finished, commercial spaces that are ready for fit out and operation.
  • Our client has produced a forecasted operating performance that can be requested directly from knight frank.
  • It forecasts an operating rooms revenue in excess of £1,400,000 per annum.
Sale type Investment
Tenure Freehold
More building details Less building details

Property facts for The Cannongate, Edinburgh

The C-listed Victorian building is set out over three floors, comprising of 21 self-catering hotel apartments, a spacious commercial unit (ideal for operation as a restaurant), an atrium living room, a bar and roof terrace.

Uniquely located, this boutique apart-hotel is right in the heart of Edinburgh’s city centre. Situated just a stone’s throw from Edinburgh Castle, St. Giles’ Cathedral, the National Museum of Scotland, the National Library and Edinburgh University. As a central part of the ‘New Waverley’ scheme, the Canongate will create a vibrant hub within this flagship mixed-use development, creating an entirely new destination for Edinburgh. The development is positioned next to the historical Royal Mile with the main shopping and commercial thoroughfares of Princes Street and George Street close by. Within a comfortable walking distance are major high street retailers, fine restaurants and fashionable bars. Getting to and from New Waverley could not be easier given the array of transport connections. The newly refurbished Waverley Station is only 4 minutes’ walk away, offering regular trains throughout the Lothian region, Scotland and the UK. The nearest airport is Edinburgh Airport, 7 miles from the apart-hotel, with Glasgow Airport 48.5 miles away.

Building subtype
Hotel
Number of storeys
3
Parking ratio
0.22
Rentable building area
17,500 sq ft
Year built
2019
Parking
Surface: 4

Attachments

PDF #1 Marketing brochure/flyer Download

This hospitality building for sale is located in Edinburgh.

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Meet the team

Knight Frank LLP

  • A profile photo of James Stewart Lockhart James Stewart Lockhart
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Disclaimer. Property descriptions, images and related information displayed on this page are based on marketing materials found on the website registered to Knight Frank LLP. Realla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Knight Frank LLP for full details and further information.