Tuffin Ferraby Taylor (“TFT”), independent property and construction consultancy, has completed Technical Due Diligence on behalf of its client, Knight Frank Investment Management (“KFIM”) at Travelodge at 30/31 Queen Street, Edinburgh.
In only seven days, TFT undertook a full Technical Due Diligence survey and Reinstatement Cost Assessment, enabling KFIM – on behalf of the Long Income Property Unit Trust (“LIPUT”) – to complete its £10m purchase of this prime city centre hotel in the heart of Edinburgh’s New Town.
Neil Wotherspoon, Technical Partner, Tuffin Ferraby Taylor, said:
“This deal demonstrates yet further confidence in Edinburgh’s ever-popular hotels’ sector. The Queen Street property retains its original Georgian façade on one of the Scottish capital’s iconic streets only a stone’s throw from the £850 million regeneration at Edinburgh St James.
“We are very proud of our long-standing relationship with Knight Frank Investment Management. Our ability to deploy quickly and offer rigorous support enabled the client to complete the transaction only days after we were instructed.”