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Safestay to offload Edinburgh site

Its board said the asset disposal is the ‘optimal approach’ for the group to raise new capital in the current market environment, calling the £16 m offer for the Edinburgh hostel an ‘attractive solution’

Safestay, the owner and operator of an international brand of contemporary hostels, has announced it will sell its Edinburgh Hostel to a&o Hotels and Hostels for £16m payable at completion, representing a 22% premium to the £13.4m book value. 

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