29-04-2025
- Business
- The Herald Scotland
Landmark Scottish £1bn development centrepiece hotel sold
W Edinburgh, Marriott International's first luxury property in the market and the first W Hotel in Scotland, opened November 2023 and was put on the market in June last year.
The hotel is situated in the new St James Square Quarter.
The hotel building from the ground. (Image: Gordon Terris) It comprises the Ribbon Building, James Craig Walk and the Quarter House. James Craig Walk is a heritage listed terrace named after the Scottish architect, dating from 1775. The newly-built Quarter House design was inspired by traditional Edinburgh architecture, interlinking with the 12-storey Ribbon Building which features 360 degree views over the city.
Schroders Capital currently manages its £3.1bn of investments in hotel businesses operated by a team of 40 people located in offices in London, Paris, Milan and Amsterdam.
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James Macnamara, of Schroders Capital, said: 'The addition of the W Edinburgh to our portfolio is hugely exciting, as we continue to identify top-tier hotel assets that can facilitate multiple ways to create value and offer significant long-term growth potential.
'Edinburgh is an attractive market for Schroders Capital and we look forward to working with the highly experienced and agile team at the hotel to ensure guest experience remains in line with the W brand quality and ethos.'
Ed Webb, of Nuveen, said: 'The completion of the sale of the W Edinburgh marks a considerable milestone for St James Quarter as the first transaction realises over a decade of planning and development to deliver a leading destination in the heart of Edinburgh and the completion of a vision shared by our investors.
'The hotel itself has become an iconic landmark within the city centre whilst also providing a best-in-class offering worthy of Edinburgh's status as a global tourist destination and recognised by being awarded Scottish hotel of the year 2025.'
Schroders Capital and its clients were advised by CMS and Carey Olsen. Nuveen Real Estate was advised by Savills and Eastdil Secured, Herbert Smith Freehills and CMS, and EY.
