Student accommodation provider Unite has sold a site in
A joint venture between Beaghmor Property and Fitzpatrick Design Collection has bought 1-3 and 5 Baxter’s Place and
Unite announced the sale of £54m of assets in May as part of a strategy towards becoming a developer and co-investor.
It originally bought the
William Scarlett, director of Rettie & Co, which advised the buyer, said: “This development site addresses a gap in the market for five-star hotel beds in the
“Together with the commencement of trams on Leith Walk in 2011 and the redevelopment of the St James Centre, it will considerably advance the regeneration of this end of town.”
Subject to planning, the hotel is expected to open by the end of 2010.
Storeys:ssp advised Unite.
