Edinburgh St James hotel and residential investment opportunities launched
TIAA Henderson Real Estate (TH Real Estate) has confirmed that investment opportunities for the hotel and residential aspects of its £850m Edinburgh St James development are now being proactively marketed.
The retail-led regeneration development will transform the Scottish capital, with work starting later this year. Completion of the hotel and residential units will be in 2020, whilst the retail element of Edinburgh St James is expected to complete in 2019. The scheme will deliver 750,000 sq ft of prime retail space including a boutique cinema and more than 30 dining destinations. This will help move Edinburgh further up the UK retail rankings, from 13th to seventh, and will support the city’s tourist industry which contributes an estimated £260m to Edinburgh’s economy each year.
TH Real Estate has appointed JLL to market the hotel investment opportunity for Edinburgh St James. The luxury development will be the centre-piece of the scheme and will include up to 210 hotel rooms. A 3,815 sq m apart hotel also has the potential to provide between 52–70 suites. The design and layout of the hotel is flexible and can be shaped to the right investor.
Rettie & Co. has been instructed to take the residential aspect of Edinburgh St James to the market. The opportunity consists of three distinctive buildings which are consented to provide up to 250 units, offering unparalleled views across the UNESCO World Heritage City. A purchaser or partner will have the chance to remix the scheme in order to maximise it for the Private Rented Sector, sale or serviced apartments markets.
A world-class example of city-enhancing place making, Edinburgh St James will be one of the UK’s largest and most significant regeneration projects.
Details on Edinburgh St James, including contact details for Rettie & Co and JLL can be found at http://www.edinburghstjames.com
Stephen Wicks, Director of Shopping Centres at TH Real Estate & Fund Manager of the UK Shopping Centre Fund, said:
“There is no other location to assemble a high-specification residential scheme of Edinburgh St James’ quality in the city. As an established finance and business hub with a thriving tourism industry, second only to London, there is a clear appetite for a luxury hotel. Given this, it is little wonder that we have already received high levels of interest in the hotel and residential elements of Edinburgh St James. We are now actively looking for suitable partners with whom we can take the development forward.”