OSBORNE HOUSE STRATEGIC HOTEL DEVELOPMENT OPPORTUNITY PLANNING CONSENT FOR 157 BED HOTEL - Christie & Co
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STRATEGIC HOTEL
DEVELOPMENT OPPORTUNITY OSBORNE
PLANNING CONSENT
FOR 157 BED HOTEL
HOUSE
1 OSBORNE TERRACE
EDINBURGH
EH12 5HG
PLAY VIDEO
OSBORNE HOUSE
SUMMARY
HOTEL OPPORTUNITY
1 Osborne Terrace | Edinburgh | EH12 5HG
LEASEHOLD OR
DESIGN & BUILD
PROPOSED GIA:
6,028 SQM
(64,885 SQFT)
OPPOSITE DONALDSON’S
LOCATED IN HAYMARKET SCHOOL RESIDENTIAL
AREA OF THE CITY DEVELOPMENT
PLANNING CONSENT FOR
157 BEDS WITH ANCILLARY
RESTAURANT & BAR (FULL PACK
OF INFORMATION AVAILABLE)
5 MINS WALK TO HAYMARKET STATION
WALK TO MURRAYFIELD
10 MINS STADIUM (LARGEST STADIUM IN
SCOTLAND WITH 67,800 SEATS)
15 MINS WALK INTO THE CITY CENTRE
2
OSBORNE HOUSE
EDINBURGH KEY FACTS
HEADQUARTERS TO
ABERDEEN STANDARD
EDINBURGH IS HOME INVESTMENTS, RBS,
1 Osborne Terrace | Edinburgh | EH12 5HG
SAINSBURY’S BANK, BAILLIE
TO THE SCOTTISH GIFFORD, MARTIN CURRIE.
GOVERNMENT AND
PROUDLY HOSTS UK’S LARGEST REGIONAL FINANCIAL
CENTRE. OVER 30 BANKS
TWO UNESCO WORLD OPERATIONAL WITH £500BN OF
ASSETS UNDER MANAGEMENT.
HERITAGE SITES.
MOST VISITED CITY IN THE UK
OUTSIDE LONDON WITH 3.5M
ANNUAL TOURISTS.
EDINBURGH IS THE
CAPITAL CITY OF SCOTLAND THE UNIVERSITY OF EDINBURGH IS
RANKED 1ST IN SCOTLAND AND 6TH
IN THE UK.
CITY POPULATION OF
513,000 AND CITY REGION
POPULATION OF 1.36M EDINBURGH HAS THE HIGHEST
GVA PER CAPITA AND AVERAGE
DISPOSABLE INCOME PER
THE CITY IS RECOGNISED GLOBALLY RESIDENT OF ALL UK CITIES.
AS A FINANCIAL CENTRE WITH A
CONSIDERABLE NUMBER OF FINANCIAL
INSTITUTIONS LOCATED HERE
BAILLIE GIFFORD DUE TO
OPEN THEIR NEW 280,000
SQFT HQ BUILDING AT HOTEL OCCUPANCY
HAYMARKET IN 2023. IN 2019 WAS 85% 3
OSBORNE HOUSE
EDINBURGH
LOCAL OCCUPIERS
1. Apex Haymarket
2. Apex 123
3. ICAS
10-15 MINUTE 4. Royal London
1 Osborne Terrace | Edinburgh | EH12 5HG
5. HM Revenue & Customs
6. COSLA
WALK TO THE CITY 7.
8.
City Point
Roseberry House
Waverley
Station
CENTRE AMENITIES. 23
9. Haymarket Hub
10. Proposed Intercontinental Hotel (2023)
and Baillie Gifford HQ (26,000 sqm) 20 22
11. Leonardo 21 18
12. Hub by Premier Inn
13. Point A
19
14. EICC 17
EDINBURGH AIRPORT IS LOCATED 15. Sheraton Grand
16
6 MILES WEST OF THE PROPERTY. 16. Rutland Hotel 15
17. Waldorf Astoria
18. Premier Inn
19. Kimpton 14
20. Tiger Lilly
21. Yotel
12 13
EXCELLENT RAIL LINKS FROM 22. Hub by Premier Inn
23. Travelodge
HAYMARKET STATION.
11
10
TRAINS EVERY 15 MINUTES TO AND OSBORNE 9
FROM GLASGOW AND ONE STOP TO
WAVERLEY STATION WITH TRAINS TO HOUSE Haymarket
Station
LONDON EVERY 30 MINUTES. 8
7
1 6
TRAM STOP NEARBY WITH
DIRECT FAST LINK TO THE 2
AIRPORT EVERY 7 MINUTES. 5
4
ROAD AND BUS LINKS
TO THE CITY.
3
Tram Stop
4
OSBORNE HOUSE
EDINBURGH
EDINBURGH IS
1 Osborne Terrace | Edinburgh | EH12 5HG
IDENTIFIED AS
ONE OF THE MOST
PROSPEROUS
AREAS OF THE UK.
With in excess of 513,000 people and one of the
fastest growing populations in the UK, the city of
Edinburgh has a strong economy balancing financial
and business services with software, biotechnology
and creative industries. Edinburgh is world
famous for The Festival Fringe and International
Festival taking place annually and contributing to
around 4 million visitors each year, earning it the
accolade of second most visited city in the UK.
In addition to business and finance, the The property is situated in the Haymarket
Edinburgh City Region is home to four area on one of the main arterial routes into
universities and three further education Edinburgh and has immediate access to
MINUTES
colleges with in excess of 60,000 students. tram stops and a mainline rail station at
Haymarket. A £350m development is also
WALK FROM
underway at Haymarket due to deliver
35,000 sqm of Grade A offices, of which
26,000 sqm will be taken by Baillie Gifford
SCOTLAND’S for their new HQ and and a 365 bed hotel
operated by Intercontinental Hotels.
LARGEST Another exciting development due to
STADIUM.
open shortly is the £850m Edinburgh
St James Quarter with retail space,
restaurants, cinema, hotel and residential
accommodation comprising 79,000 sqm.
5
EDINBURGH HOTEL MARKET
TOURISM TRENDS HOTEL SUPPLY TRENDS HOTEL PERFORMANCE TRENDS
Edinburgh has enjoyed steady tourism
growth for several years. Domestic
EDINBURGH HAS THE 3RD The market has proven to be highly
resilient to economic downturns and
tourism has been broadly stable with LARGEST HOTEL SUPPLY IN performance recovered fast following
the 2008/12 recession, thanks to a well-
some 2.5m visitors, contributing around
6m overnight stays and spending £700m THE UK AFTER LONDON AND diversified demand base and robustness
of the economic fundamentals.
every year. Overseas travellers are a
key driver, staying 5 days on average
MANCHESTER.
and spending over £500 per trip (nearly
The last 10-year CAGR indicates a 3%
OCCUPANCY HAD BEEN
twice the stay and spend per trip of
domestic visitors), with a total spend of
growth in rooms supply, whilst the CONSISTENTLY ABOVE 80%
£1.2bn in 2019, a 10% YoY increase.
number of hotels grew by 1% CAGR
over the same period, as opened hotels BETWEEN 2013-2019, WITH
OVER THE LAST FIVE have been both larger and branded.
STRONG GROWTH IN ADR.
In the last 10 years the Economy segment
YEARS, INTERNATIONAL grew by a 6.6% CAGR, with most of rooms May to October is generally the peak period,
OVERNIGHTS AND opening after 2012. Key openings in this
segment were primarily by Premier Inn
largely driven by conferences and high-
profile leisure events such as the International
EXPENDITURE HAD GROWN (incl. hub by Premier Inn) and Travelodge. Festival and Fringe Festival, while January
and February are typically the periods of
BY A CAGR OF 8.8% AND The market is divided evenly between
various hotel categories catering to the
low demand. March to April and November
10.4% RESPECTIVELY. wide-ranging needs of visitors, with Upper
to December are shoulder seasons, driven
by various events such as the Science
Midscale taking up the most (24% of
Festival, Christmas events and Hogmanay.
The US is Edinburgh’s largest room supply), followed by Upper Upscale
source market with 461k visitors in (19%), Upscale (18%) and Economy (17%).
2019, followed by Germany (194k), Notably, 43% of room supply is Upscale or
France (171k) and China (148k) above, making this city known for its high-
end hotel offering recording the second
Holiday visits are the main purpose of
highest ADR in the UK, after London.
visiting Edinburgh with 72% internationally
and 53% domestically. The busy The market is also highly branded (77%
conference and festival calendar, historic of room supply). Premier Inn is the
buildings and financial institutions largest brand in the city with 9 hotels,
make the city a popular destination accounting for 6% of room supply, followed
for business and leisure visitors. by Travelodge (5%) and Apex (3%).
OSBORNE HOUSE
THE DEVELOPMENT TENURE
S Harrison Developments are in a position to
OSBORNE HOUSE ACCOMMODATION offer a lease on Full Repairing and Insuring
terms to suitable occupiers or alternatively
IS CURRENTLY AN SCHEDULE
1 Osborne Terrace | Edinburgh | EH12 5HG
offer a turnkey / design & build option
for purchase on Heritable (Scottish legal
OFFICE BUILDING Floor Bedrooms Proposed GIA
equivalent of English Freehold) terms.
OF SOME 3,273 SQM. Lower Ground 21 1035
PLANNING
Ground 18 1320
S Harrison Developments have secured planning First 42 1303
consent for an extension to the property to create Second 30 941 Following the acquisition of the property,
some 6,028 sqm (64,885 sqft) to accommodate planning consent for a 157 bed hotel with bar
Third 25 790
a 157 bed hotel with restaurant and bar facilities. & restaurant uses at ground floor was secured.
The proposed floor plans can be viewed here. Fourth 21 639
Additional land bought to the immediate
Total 157 6028 south of the property may allow for further
NB: In addition, S Harrison Developments have
acquired adjacent land for further expansion expansion and increased room numbers
(outlined in blue) with potential for a further 48 (subject to securing the relevant consents).
rooms which may be of interest to occupiers. The planning information is available on the
City of Edinburgh planning portal using the
following link reference 18/02976_FUL.
Further information is available upon
request from the joint sole agents.
TIMESCALE
POTENTIAL To be agreed. The property has the
benefit of vacant possession and is
EXTENSION ready for immediate development,
subject to agreeing specification and
1200 x 700
TWS
any relevant statutory consents.
8105
1045
10350
4400
7
OSBORNE HOUSE
THE DEVELOPER
BESPOKE, INNOVATIVE
SOLUTIONS THAT EXCEED
1 Osborne Terrace | Edinburgh | EH12 5HG
EXPECTATIONS OF OUR
CLIENTS AND PARTNERS.
S Harrison Developments is a company Malmaison, Edinburgh
with a national reputation as a provider of
bespoke, innovative solutions that exceed the
expectations of its clients and partners.
Founded by the late Stanley Harrison in 1952
and with a background in construction, the
development business is respected for its
quality and on-time/on-budget delivery.
In recent years, Harrison has been particularly
active in the hospitality and student residential
sectors delivering new build and regeneration
schemes for Malmaison, Hotel du Vin, Indigo,
Hampton by Hilton and Premier Inn among
others. Further details are available at Premier Inn, Lichfield Hampton by Hilton, York
www.s-harrison.co.uk
Hotel du Vin, Stratford upon Avon Indigo, York 8
FURTHER INFORMATION For further information please contact the joint sole agents: John Conroy M: 07979 494915 E: john.conroy@ryden.co.uk Jon Patrick M: 07831 263529 E: jon.patrick@christie.com Ryden is a limited liability partnership registered in Scotland. Messrs Ryden for themselves and for vendors or lessors of this property whose agents they are give notice that: (i) the particulars are set out as a general outline only for the guidance of intended purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; (iii) no person in the employment of Messrs Ryden has any authority to make or give any representation or warranty whatever in relation to this property. June 2021.
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