Edinburgh Self Storage »
Edinburgh’s Offices & Storage Rooms Are Being Transformed Into A New City Centre Hotel
Our Blog
Edinburgh’s Offices & Storage Rooms Are Being Transformed Into A New City Centre Hotel
December 2011 (1)November 2011 (2)
October 2011 (3)
September 2011 (3)
August 2011 (2)
July 2011 (4)
June 2011 (7)
May 2011 (1)
Edinburgh’s Offices & Storage Rooms Are Being Transformed Into A New City Centre Hotel
Posted 2011-07-07 09:53:00Sir Philip Green’s Arcadia Group is planning the development of a new hotel in Edinburgh’s busy City Centre. The building proposed for the development is currently offices and storage rooms. Once built, the Princes Street hotel is expected to create around 40 new Jobs in the city. The grade II listed building is situated above department store Topshop, towards the east-end of Princes Street, near Waverley Station. The Hotel Chain behind this development is the well-known budget hotel company, Travelodge. However, Topshop owners, Arcadia Group, are funding the development.
Travelodge’s CEO, Guy Parsons states: “We will utilise space previously used for storage“. Furthermore, "Arcadia forward funding our new hotel in one of the most prestigious locations in Edinburgh just demonstrates how flexible the Travelodge development model is."
35 year lease for the building is rumoured to cost £10 million. This is just the latest in a large chain of development plans for Travelodge, who now own over 40 hotels in Scotland alone. Despite this large investment, development plans for Edinburgh do not stop there. There are currently 13 Travelodge hotels in Edinburgh alone, and plans for the future include an inner city expansion with up to five innovative “Metro Hotels” earmarked for Edinburgh alone. Metro hotels will be much smaller, allowing fast paced development in city centres. These hotels will generally house around 20 guest rooms.
Expansion is not limited to the country’s capital, as Travelodge have already opened 18 new hotels in the first half of 2011. Other areas of planned expansion in Scotland include Aberdeen and Glasgow.
The hotel is due to open in summer 2012, just in time for the beginning of the Edinburgh Festival season. Edinburgh’s popularity with tourists and has created this demand for budget accommodation in the city centre. With one of the largest New Year Celebrations in the world, as well as the world famous Edinburgh Festival there is always something for tourists to see and do in Scotland’s historic capital.
It is commonplace for city centre dwellers and businesses to utilise space as much as possible during the busy festival season to provide accommodation for festival visitors. Many homeowners choose to de-clutter their homes and put any personal belongings into storage whilst they lease out spare rooms during the festival, so there is certainly a demand for affordable accommodation within the city centre.
0 Comments | Posted By Edinburgh Storage in Edinburgh
