Hotel operator Whitbread has announced that it will be building its second venue under the Hub by Premier Inn brand as part of a new £150 million development in Caltongate, Edinburgh.
The 130-bedroom site will feature alongside another 127-bedroom Premier Inn; these two sites being a large part of the overall redevelopment scheme linking Waverley Station with the Royal Mile. Artisan worked with Colliers International to broker the hotel deal.
As part of the scheme, there will be a pedestrian-friendly area offering retail stores and restaurants, while a new £6.5 million civic square will boast 16,500 sq m of office space, a new community facility and 145 residential units. In total, the completed project, managed by development company Artisan Real Estate Investors, is set to generate a turnover of £84 million annually.
John Bates, head of acquisitions for UK & Ireland at Whitbread, said: "This is another outstanding deal for Premier Inn. It gives us more than 257 new bedrooms in central Edinburgh and also our first new Hub by Premier Inn outside London. We are now set to have two great Premier Inn products side-by-side in a superb new development in the heart of the Old Town – and close to Waverley Station. It is more exciting growth for us in Scotland and another big result for our customers."
It is hoped that this huge scheme will create a wide array of jobs and further boost hospitality employment across the region.
Following the proposals submitted by Artisan in August 2013, there will be committee hearing on the project in January 2014. If everything is approved, work should begin on the development some time next year.
Berkeley Scott is a specialist recruitment agency providing hotel management solutions.