Nuveen Real Estate to sell stake in Edinburgh mixed-use project St James Quarter and W Edinburgh Hotel

St James Quarter likewise includes the freehold full-service hotel, the W Edinburgh. The 244-room asset was opened in November 2023 beneath a continued hotel management arrangement with Marriott International.

“Having spent the previous 8 years spending money to develop the now iconic quarter in the heart of Edinburgh, the moment has actually arrived for us to offer our interest in accordance with our wider company plan for the improvement,” says Steve Wicks, head of retail, Europe at Nuveen Real Property.

Savills has recently been jointly appointed with Eastdil, a real property investment bank, to advertise the sale of the W Edinburgh.

She adds that Savills has actually received solid attention for the hotel property from Asia Pacific and Center East-based customers, in addition to a series of exclusive and institutional capitalists.

The W Edinburgh spans 174,300 sq ft inside a 10-storey building, with unobstructed viewpoints over Edinburgh Old Town, Calton Hill and Holyrood Park. The residence is fully managed by Nuveen Real Property, and the hotel has actually as well been put up for sale.

The mixed-use development is currently operated by a 27:75 shared venture among the Nuveen-managed UK Shopping Center Fund and Dutch pension investment company, APG. Hence, Nuveen is seeking to divest its stake in the retail and housing aspect of St James Quarter.

Global real estate venture company Nuveen Realty is seeking out a buyer to obtain its 25% involvement in St James Quarter, a mixed-use property in Edinburgh, Scotland. It has already gotten Savills as its international advertising and marketing agent.

St James Quarter is a 1.7 million sq ft mixed-use property that was completed in 2021. It comprises an 850,000 sq ft retail galleria, and also the 152-unit New Eidyn residence project. The project also includes 1,600 off-street carpark spots.

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“The UK continues to be a priority marketplace for many and today, we are observing specifically solid curiosity in, and motive to deploy into, the UK hospitality sector. Edinburgh is consistently a leading goal for this method granted its power as both a traveler and business location,” says Emma Steele, director, Global Cross Border Financial Investment, Savills.

“This is an outstanding option to get an interest in some of the highly interesting lifestyle quarters in the UK,” says Mark Garmon-Jones, director, UK Investment, Savills. He includes: “We’re pleased to be partnering with Nuveen to get a real estate investor wanting to have a stake in this high-performing asset with finest end premium non commercial components and a best-in group retail and leisure experience”.


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