A major new hospitality brand Is entering Edinburgh after buying a building in the Old Town.
Whitebridge Ventures are bringing the Kabannas brand offering to Edinburgh after buying Hayweight House at 23 Lauriston Street in Edinburgh from charity SAMH (Scottish Action for Mental Health).
The sale was conducted by Graham + Sibbald.
The property agent said: “Hayweight House came to the market as a rare opportunity to purchase a prime city centre building within the vibrant Old Town area of Edinburgh. The building is prime for redevelopment with the potential to extend the existing building footprint, which made it suitable for a variety of uses.
READ MORE: Ian McConnell: Muzzled dog, yes, but Swinney also hits nail on head
"The location, along with the opportunity for redevelopment, interested a range of buyers, with the open marketing producing a good level of competitive bidding to a closing date.”
Graham + Sibbald added: “The successful purchaser is Whitebridge Ventures, who are bringing the new Kabannas brand offering to Edinburgh. Kabannas currently has accommodation in London, Liverpool and Newcastle, making this purchase their first in Scotland. The brand offers affordable accommodation in the heart of the city centre, offering private rooms, family rooms and shared rooms of up to 14 people.”
READ MORE: Ian McConnell: Stand-up comedy beckons as leader delivers the laughs
Peter Fleming, director at Graham + Sibbald, said: “It is great to see Hayweight House sold to Kabannas. Entering a new location and bringing something new to Edinburgh’s market, we look forward to seeing the redevelopment of the building into a hotel and wish them the best.”
Alistair Letham, a hotel and leisure consultant with Graham + Sibbald, said: “Edinburgh is a strategic hub for leisure and commercial activity, and the leading UK hotel market after London, making Hayweight House a clear opportunity to be redeveloped into a hotel.
READ MORE: Ian McConnell: The sad, sad tale of a Scottish bank
“Kabannas will be a wonderful new offering in Edinburgh where there is an ever-increasing demand, year-round, for good-quality, and stylish, affordable budget-style accommodation. Kabannas will add another string to the bow of what Edinburgh can offer.”
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here