THE SCOTSMAN A TRULY LANDMARK FIVE STAR BOUTIQUE HOTEL

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1 THE SCOTSMAN A TRULY LANDMARK FIVE STAR BOUTIQUE HOTEL

2 2 THE SCOTSMAN On the joint instructions of The White Elephant Preservation Company (Scotsman) Ltd. Remuneration Trust and Scotsman Edinburgh Company (In Liquidation), JLL Hotels & Hospitality Group and CBRE Hotels are delighted to present the iconic Scotsman Hotel, Edinburgh for sale.

3 3 THE SCOTSMAN A truly landmark five star boutique hotel Trophy A-Listed building dating from 1905 tastefully converted to a hotel in 2001, preserving and enhancing period features throughout Central Edinburgh location in close proximity to the world famous Royal Mile and overlooking Edinburgh Castle, Firth of Forth, Princes Street and Carlton Hill Heritable (Freehold) tenure Available with vacant possession free and clear of branding and management 69 spacious bedrooms with the majority boasting an area over 34 m2 (minimum area of 28 m2) 72 seat North Bridge Bar and Brasserie 20,000 sq ft Scotsman Spa and Health Club Eight meeting rooms providing in excess of 700 m² and a 46 seat private screening room Significant asset management potential and ability to add additional bedrooms

4 4 THE EDINBURGH HOTEL MARKET Edinburgh is a major tourism centre in the UK and gateway to the rest of Scotland. Around four million visitors a year inject 1.32 billion into the local economy which has a multiple award-winning reputation as one of the most attractive destinations in the world, with an ideal mix of shopping, culture, music, heritage and leisure facilities. The Scottish capital city and a well-established and successful centre for finance, business and tourism, is one of the UK s best connected cities benefiting from a modern efficient transport and communications network linking it with the rest of the UK, Europe and beyond. As one of the strongest economies and largest financial centres outside of London, the city is home to a vast range of corporate occupiers and home to more FTSE 100 companies than any other regional UK city. Edinburgh is the world s festival capital, with 12 international festivals and a host of other major events throughout the year. They include the Edinburgh International Festival, Edinburgh International Science Festival, International Film Festival, International Book Festival, the Edinburgh Military Tattoo, Edinburgh s Christmas and Hogmanay and the Edinburgh Festival Fringe, the largest arts festival in the world.

5 5 EXCEPTIONAL LOCATION The Scotsman Hotel occupies a strategic position at the cultural heart of one of the most buoyant and sought after hotel markets in Europe. Located on North Bridge less than a minutes walk from the world famous Royal Mile (also known as High Street) within the heart of Edinburgh s historic Old Town, which has been designated a UNESCO world heritage site. Benefiting from excellent connectivity the hotel is located immediately adjacent to Waverley Station, Edinburgh s main railway station, and is in close proximity to the Edinburgh tram network which links the city centre to the Airport in under 30 minutes.

6 6 THE SCOTSMAN Edinburgh s compact city centre offers a wide variety of retailers, with large UK multiples located along Princes Street as well as premium boutique designer brands located on both George Street and Multrees Walk. As one of the most prosperous cities outside of London, brands such as Burberry, Louis Vuitton and Mulberry are all present, as are key high street retailers such as Apple, House of Fraser and John Lewis. Harvey Nichols, the premium department store, sits in the heart of the city overlooking St Andrew Square, while the St James Centre which is scheduled to be significantly redeveloped as part of the wider Edinburgh St James development, sits to the east of Princes Street and will significantly enhance the city s retail offering once complete. 1 Edinburgh Castle 8 Princes Street Gardens 2 Royal Mile 9 Scott Monument 3 North Bridge 10 Princes Street 4 Waverly Train Station 11 George Street 5 The Balmoral Hotel 12 Harvey Nichols 6 Jenners 13 Edinburgh St James 7 St Andrews Square

7 7 KEY ACCOLADES 2 ND MOST TECH SAVY UK TOWN (Google etown Awards 2013) UK S SAFEST DESTINATION IN SURVERY ACROSS THE NATION (YouGov 2014) 3 RD BEST CITY IN THE UK TO LIVE AND WORK (2014 Good Growth for Cities index) MOST POPULAR UK CITY AFTER LONDON FOR HOSTING INTERNATIONAL ASSOCIATION MEETINGS AND RATED 21 IN THE TOP 50 EUROPEAN CITY RANKING (ICCA 2013) NAMED EUROPE S LEADING DESTINATION (World Travel Awards 2012) ONE OF THE TOP 10 CITIES TO VISIT (Wanderlust Travel Awards 2014) VOTED NAMED BEST MID-SIZE EUROPEN CITY (Financial Times fdi Magazine 2014) VOTED BEST PLACE TO LIVE IN THE UK (YouGov 2013) VOTED FAVOURITE UK CITY FOR 13 th CONSECUTIVE YEAR (Guardian/Observer Readers Travellers Awards 2012) NAMED BEST FOREIGN DIRECT INVESTMENT STRATEGY - MID-SIZED-CITY (Financial Times fdi Magazine 2014) 1 ST FOR BRITAIN S BEST TEN CITIES AWARDS (Telegraph 2014) CONVENTION EDINBURGH NAMED FINALIST IN BEST UK CONVENTION BUREAU (Meeting and Incentive Travel Awards 2015) VOTED BEST UK CITY (Telegraph Travel Awards 2012) NAMED BEST AIRPORT OF THE YEAR 2 ND CONSECUTIVE YEAR (Scottish Transport Awards 2014) BEST IN EUROPE EDINBURGH AIRPORT (ACI EUROPE Best Airport Awards 2013) EDINBURGH UNIVERSITY WAS RANKED 17 TH IN THE WORLD (QS World Rankings 2014)

8 8 ICONIC ASSET The Scotsman Hotel is formed within a Category A listed building which dates from 1905 and is the former printing works and head office of the Scotsman newspaper until it was converted to a hotel in It is an iconic feature of Edinburgh s renowned UNESCO World Heritage skyline and is recognised as one of the city s landmark buildings. The property s heritage is evident in its design and layout. The hotel benefits from street level access from both North Bridge and Market Street, directly opposite Waverly train station. The hotel retains many of the building s original architectural features. Most notably are the property s Renaissance style turrets, luxurious marble staircase and columns which combine with ornate timber panelling, original cornicing and stained glass windows to create one of the city s most attractive and distinctive buildings.

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10 10 HOTEL FEATURES GUESTROOMS The hotel s 69 guest rooms and suites provide some of the most generously proportioned accommodation in Edinburgh. Retaining many of the original architecture and fittings they capture the historic nature of the property whilst providing guests with the modern amenities expected by the discerning traveller. The Penthouse offers two dedicated floors. The ground floor provides its own private dining area, library, lounge and study area. There is also a spiral staircase leading to the mezzanine level with bathroom, a large private sauna and views across Edinburgh Castle and the city streetscape. TYPE NUMBER AVERAGE SIZE (SQ. M.) Study Room Deluxe Room Editor Room Publisher and Director Suite Baron Suite 1 68 Penthouse TOTAL 69 Source: Hotel Management

11 11 NORTH BRIDGE BRASSERIE North Bridge Brasserie has been created from the newspaper s former reception hall where traders and merchants would buy copies of the newspaper or place their local advertising. The brasserie serves modern Scottish cuisine with seasonal menus focussing on ingredients of the highest quality. Signature dishes at the restaurant include Scotsman style haggis, neeps and tatties with Glenfiddich single malt whisky jelly and hot chocolate mousse with toasted marshmallow ice cream and crunchy melt rocks. The brasserie is well utilised by residents and non-residents alike given its prominent location on North Bridge making it particularly popular with the city s numerous tourists. The brasserie also serves as the Hotel s breakfast room. TYPE COVERS North Bridge Brasserie 72 Source: Hotel Management

12 12 CONFERENCE AND MEETING FACILITIES The Scotsman Hotel provides an exclusive setting for corporate events and the hotel benefits from seven dedicated areas including function suites, a boardroom, drawing room as well as a unique private screening room. AREA (SQ.M.) The Screening Room The Boardroom BOARDROOM THEATRE BANQUET COCKTAIL The Drawing Room The Russell Suite The Club Room The MacLaren Suite The Linklater Suite Source: Hotel Management The Vermillion Lounge, which is also known as the Guest Lounge, can double as a drinks reception space or break out area. The Linklater Suite benefits from a dedicated private courtyard with patio seating for 20. The Linklater Suite can sub-divide into three separate rooms. Both the Linklater Suite and Russell Suite and popular wedding venues. The MacLaren Suite can sub-divide into four separate areas and is frequently used to host evening receptions, larger dinners and benefits from panoramic views over Princes Street Gardens to Princes Street and beyond. The Screening Room is a unique facility providing the ability to host product launches and private screenings.

13 13 The Scotsman Spa and Health Club The Scotsman Spa and Health Club provides 20,000 sq. ft. of gym, spa and café facilities which available to residents and popular with external members given its dedicated entrance. The spa and health club has partnered with Aveda who provide a range of luxurious products and treatments. The gym has a unique 16m stainless steel swimming pool, Jacuzzi, steam room and tropicarium. The gym contains extensive aerobic stations with Cybex, Life Fitness and Concept 2 equipment. There is also a free weights area and a studio room for spin, yoga and fitness classes. There are four treatment rooms providing facials, body treatments, massages and manicures and pedicures.

14 14 TENURE The heritable (Scottish equivalent of freehold) interest of the property is available free and clear of branding, management or under-leases by means of an asset sale. VIRTUAL DATA ROOM Full documentation is available within the data room. Access to the data room will be provided upon signing of a non-disclosure agreement by qualified parties.

15 15 PROCESS JLL Hotels & Hospitality Group and CBRE Hotels are pleased to invite offers, subject to contract for the heritable (freehold) interest in the Scotsman Hotel by way of an asset sale. Interested parties may contact JLL Hotels & Hospitality Group and CBRE Hotels to express their interest. However, no direct contact is to be made with management, hotel employees or the vendors. Inspections and meetings can be arranged upon request via the joint agents. Kerr Young Hotels & Hospitality Group t: +44 (0) Neil Milligan Hotels & Hospitality Group t: +44 (0) Rob Seabrook CBRE Hotels Limited t: +44 (0) Brien Giuntini CBRE Hotels Limited t: +44 (0) MISREPRESENTATION ACT 1967 AND DECLARATION Jones Lang LaSalle Limited and CBRE Hotels for themselves and for the vendors of this property whose agents they give notice that: a) the particulars are set out as general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, an offer or contract b) all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct, but any intending purchasers should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them c) no person in the employment of Jones Lang LaSalle Limited nor CBRE Hotels has any authority to make or give any representation or warranty whatever in relation to this property. November PROPERTY MISDESCRIPTION ACT 1991 These details are believed to be accurate at the time of compilation but may be subject to subsequent amendment.