Valad Europe and Gloag Investments have bought an office building in Edinburgh from Lone Star to develop as an 82-bedroom aparthotel.
The pair purchased Kintore House on Queen Street, which has been vacant for the past seven years. The hotel will be operated by BridgeStreet Global Hospitality under its Mode brand. Work is due to start on the redevelopment in March.
Ryden advised the buyers; Knight Frank acted for Lone Star.
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