Waldorf Astoria Edinburgh sold for a reported £85m

Martha Elwell By Martha Elwell
16 January 2018 | Updated 16 January 2018

UK: The Waldorf Astoria Edinburgh – The Caledonian – has been sold for a reported £85m

The Waldorf Astoria Edinburgh, The Caledonian, has been sold for a reported £85m.

The offshore investor is believed to be Abu Dhabi based Twenty14 Holdings, part of LuLu Group International. Investment management companies JLL and HVS Hodges Ward Elliott jointly advised on the sale.

The Times's Dominic Walsh reported that Twenty14 Holdings plans to add a further 50 rooms to the 241-room hotel under a £20m refurbishment.

Will Duffey, co-head of European transactions at JLL's hotels & hospitality group, said: "The hotel has long been seen as a jewel in the crown of the UK hotel market. Our client's recent refurbishment programme repositioned the hotel to its former glory when it reopened as the first Waldorf Astoria in the UK in 2012. We are delighted to have advised on this irreplaceable trophy hotel overlooking Edinburgh Castle to an investor who will preserve and protect this most important of assets for generations to come."

The Waldorf Astoria Edinburgh was built in 1903 by the Caledonian Railway Company. It underwent a £24m renovation before relaunching in 2012.

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