Fattal Properties Europe acquired two development sites—one with a hotel and the other with a residential building—in Edinburgh, Scotland for £52 million.
The subsidiary of Israeli hotel company Fattal Holdings acquired all the rights to the 186-room hotel. The hotel is leased to Fattal Holdings subsidiary Jurys Inn.
Fattal plans to develop an additional wing to the hotel on the first lot, investing £14 million to add 101 guestrooms to the existing building. The Jurys Inn will have 287 guestrooms once the renovation is complete.
The second lot will get a new-build 131-room Nyx hotel along with 31 residential units. Each project will cost £17 million and £1 million, respectively, to construct.
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