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New Hotel in the Center of Edinburgh

Developers have very interesting plans of reshaping a famous building in St Andrew Square in Edinburgh, and turning it into a luxury hotel. The cost of the project is told to reach £120.

According to Property Week International, the owner of the building is a construction company Bowner & Kirkland, which has paid around £20 million. Earlier the magnificent building located in 3-8 St Andrew Square was the headquarters of the local insurance firm Scottish Provident. The building has been abandoned during last 4 years.

The owner has decided to make a hotel in the building after the increased interest to the capital had occurred. It is known that Royal London also plans to turn its office located in 19 St Andrew Square into a hotel. The newly renewed square attracts many visitors, so investors consider it a good location for new quality hotels. According to Lambert Smith Hampton, currently over a dozen of hoteliers want to open hotels in Edinburgh, primarily in its central part. According to experts, Edinburgh is the second most attractive city in the UK after London, so we can expect more 5-star hotels to be open in the city within several years.

23.03.2012

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