Blue Rainbow takes over Royal Garden in Edinburgh

  Mark Reuben has sold the leasehold interest of the Royal Garden Apartments in Edinburgh to Blue Rainbow Apartments, a privately-owned aparthotel company.   Royal Garden Apartments comprise 30 luxury serviced apartments, including 15 one-bedroom apartments, 13 two-bedroom apartments and two Penthouse apartments with rooftop balconies overlooking the River Forth.   Blue Rainbow Apartments currently operates the 80-apartment Blue Rainbow Aparthotel in Manchester and is currently looking to expand throughout the UK.   Will Hannah, managing director of Blue Rainbow Apartments, said: “The acquisition of Royal Garden Apartments in Edinburgh is an excellent opportunity given its location in the city centre.   “We are planning to upgrade the apartments to a 5-star standard, which we believe the property deserves.”   Ken Sims, director at Christie + Co, which advised Reuben, said: “It is not often that quality businesses such as the Royal Garden Apartments come on the market.    “The business being sold leasehold attracted significant interest with a number of offers being received.   “This shows that there is still considerable interest from both serviced operators as well as private operators looking for suitable opportunities in the city.”   annabel.dixon@estatesgazette.com