Thu, 10 Nov 2016 | COMMERCIAL PROPERTY
Edinburgh’s five-star Scotsman Hotel is up for sale after going into liquidation in June this year.
The hotel, on the city’s North Bridge, was formerly the home of a number of Scottish newspapers and was previously owned by Saudi billionaire Sheikh Mohamed Bin Issa Al Jaber.
Its owners, JJW Hotels and Resorts group, were unable to salvage the business so have decided to put it on the market.
The 69-bedroom hotel, which also has conference and meeting rooms and leisure facilities, offers panoramic views of Edinburgh including tourist areas Princes Street and Calton Hill.
Kerr Young, director of hotels and hospitality for JLL, said: "The Scotsman Hotel was placed into liquidation on 9 June 2016 and Eileen Blackburn of French Duncan was appointed by the court.
"Since this time the hotel has continued to trade under the liquidator's supervision while efforts were made to reach agreement to return the company and its trading to its owners.
"Unfortunately this has not yet proved possible. In light of the buoyant nature of the Edinburgh hotel market we are confident that our marketing process will attract credible buyers with a track record in operating high quality hotel assets of this nature."
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