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No. 53 Frederick Street, a boutique hotel located in the centre of Edinburgh’s New Town, has been sold to Damien O’Looney, an expanding private investor, for an undisclosed amount.
It is reported that the guest house has been developed and managed by the previous owner, David Tweedie, for the past 20 years.
The sale came as he felt “it was the right time” to hand over the property to a small corporate operator or a private investor to continue growing the business.
The boutique hotel has 14 bedrooms, providing 35 bed spaces plus a “high quality” one bedroom flat for the owner of the property.
O’Looney said: “With the holiday market returning towards pre-pandemic levels, we are looking forward to many busy seasons ahead, welcoming guests to our new city centre guest house, which nicely complements our existing guest house around the corner at 45 Queen Street.”
Gary Witham, hotels director at Christie and Co, said: “We were delighted to get this deal over the line and demonstrate there is ongoing buyer demand for high quality lodging businesses with strong trading fundamentals in central Edinburgh, despite a challenging operating environment.
“This is especially true where there is the opportunity to grow room count.”
