French Duncan appoint selling agents for Scotsman Hotel

An Edinburgh five-star hotel and one of the Capital’s most prominent landmarks has been up for sale after it went into liquidation.

Liquidators from French Duncan were called in to the Scotsman Hotel, which was once home to the Scotsman, Evening News and Scotland and Sunday newspapers, three months ago.

Owners JJW Hotels and Resorts Group were allowed time to look for a way to salvage the business.

But now experts from JLL Hotels & Hospitality Group and CBRE Hotels, have been appointed to sell it.

It is being allowed to keep trading and none of the 150 staff have lost their jobs.

Previously owned by Saudi billionaire Sheikh Mohamed Bin Issa Al Jaber, it has 69 bedrooms and enjoys a prime location on North Bridge in the heart of Edinburgh’s Old Town beside Waverley Station.

It also boasts the North Bridge Brassiere, as well as conference and meeting rooms including a private screening room.

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.

The asking price is not being revealed but Mr Young said: “In light of the buoyant nature of the Edinburgh hotel market we are confident our marketing process will attract credible buyers.”

Rob Seabrook, director of hotels for CBRE, added: “The Scotsman Hotel is one of the most recognisable features of Edinburgh’s UNESCO world heritage skyline.

“Barriers to entry in Edinburgh remain high and we anticipate strong interest in this exceptional opportunity.”