Cyril Leonard advised LaSalle Investment Management on the purchase of a
site in Edinburgh’s old town together with the funding of a 259 room hotel
pre-let. The hotel was pre-let to Accor for their IBIS range on a long term
lease subject to annual RPI linked rent reviews.
The development also includes
retail and restaurant units which have been let to Sainsburys and Costa. The
project was completed in 2013 and Accor have stated that the hotel is trading
very well. Cyril Leonard also advised on
the approval of the design / specification / warranties and are supervising the
development on behalf of LaSalle Investment Management.