Edinburgh hotel sold for £25.7m following No vote

A LANDMARK hotel in Edinburgh city centre has been sold for £25.7 million following the no vote in the independence referendum.

The Double Tree Hilton Hotel in Edinburgh's West Port area. Picture: Andy O'Brien
The Double Tree Hilton Hotel in Edinburgh's West Port area. Picture: Andy O'Brien

The Hilton Double Tree hotel and The Chanter bar on Bread Street has been bought by Redefine International - but the multi-million-pound deal hinged on the Yes side being defeated.

The 138-room, five-storey hotel has recently been refurbished with a new bar, restaurant and fitness centre.

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Mike Watters, chief executive of Redefine International, said: “The transaction was structured on a conditional basis subject to a no vote in the Scottish referendum.

“Now that the uncertainty surrounding this has been removed we are very pleased to have secured this opportunistic investment in the city of Edinburgh which complements our existing hotel portfolio.”

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Meanwhile RBS has confirmed that it would not be moving its registered head office now that independence had been rejected

Shares on the London stock market also rose on Friday - the FTSE 100 share index was up 0.27 per cent, or 18 points, closing at 6837.92.

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The pound hit a two-year high against the euro and a two-week high against the US dollar, but fell back during the day.