Edinburgh hotel sold after No vote

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The No vote in the independence referendum has cleared the way for the sale of an Edinburgh hotel.

Doubletree by Hilton, in Bread Street, has been bought by Isle of Man-based real estate investors Redefine International for £25.27 million.

The transaction was structured “on a conditional basis subject to a No vote in the Scottish referendum” and has been on hold amid the “uncertainty” over Scotland’s future, chief executive Mike Watters said.

First Minister Alex Salmond and Better Together leader Alistair Darling delivered their final pre-referendum Sunday broadcast interviews at the Bread Street hotel, with its iconic views of Edinburgh Castle as a backdrop.

Redefine International’s directors include non-executive chairman Greg Clarke, chairman of the English Football League.

The acquisition of the five-storey hotel, which has 138 recently-refurbished bedrooms, also includes the The Chanter pub on the ground and basement floors of the property.

Mr Watters said: “The transaction was structured on a conditional basis subject to a No vote in the Scottish referendum.

“Now that the uncertainty surrounding this has been removed we are very pleased to have secured this opportunistic investment in the city of Edinburgh which complements our existing hotel portfolio and plays well to the management skills of Redefine BDL (Hotel Group).”