UBS acquires Edinburgh Travelodge for £9.4m

UBS Asset Management's real estate and private markets (REPM) business has acquired Edinburgh's Haymarket Travelodge hotel for £9.4m.

The property was bought from a private individual on behalf of the UBS long-income UK property fund and will continue to be operated by Travelodge on a long-term lease running to 2042.

Refurbished in 2013, the five-storey hotel comprises 73 bedrooms and a restaurant and lobby on the ground floor.

The city's Haymarket regeneration scheme is set to bring 340,000 sq ft of office space as well as 54,000 sq ft of retail and leisure units to the area.

Jonathan Hollick, head of transactions for UBS Asset Management's Real Estate & Private Markets (REPM) real estate UK team, said: "Travelodge is one of the largest brands within the UK budget hotel sector, and we look forward to a strong partnership with them as the hotel's continued operator and occupier."

JLL acted for UBS-AM and both Cushman & Wakefield and Greenberry Advisors acted for the vendor.