Northern Irish investment company WG Mitchell has sold the Point Hotel in the centre of Edinburgh for more than £20 mln (EUR 26 mln). The three-star 139-bedroom hotel in Bread Street was acquired by Jersey-based private company EBH. The deal also includes the neighbouring bar, The Chanter.
Northern Irish investment company WG Mitchell has sold the Point Hotel in the centre of Edinburgh for more than £20 mln (EUR 26 mln). The three-star 139-bedroom hotel in Bread Street was acquired by Jersey-based private company EBH. The deal also includes the neighbouring bar, The Chanter.
The Point Hotel recently won Edinburgh Hotel of the Year 2008 at the recent Scottish Hotels of the Year awards and is regularly recognised as one of the Scottish Capital's most stylish hotels. The new owners have appointed Accor to manage the hotel under their Mercure brand. The hotel is being re-branded as the Mercure Point.
Jones Lang LaSalle advised EBH. Debt finance for the transaction was provided by RBS in Glasgow.
