'Prime asset' sold
UK operator Mansley acquires city apartments
It has acquired the 20-apartment property and on-going trading interests from Edinburgh operator, Fountain Court Apartments.
Acting for the vendor, Kerr Young of JLL’s Hotel & Hospitality Group said: “The serviced apartment sector is an ever establishing asset class with both customers and investors and Edinburgh continues to prove a popular target location for both.”
Will Sandwell of Galbraith, which acted for Mansley, said: “This acquisition is a good example of the diverse off market deals we are involved with. We are delighted the client has been able to secure this prime asset for their operational business.”
Mansley acquired two serviced apartment assets in Scotland during 2015, in Inverness and in Edinburgh’s Old Town.
Colin Stone, commercial director, said: “We are have been looking for the right opportunity for some time and this fits the bill in terms of location, quality and character of property.”
Rollos provided legal services for Mansley. Anderson Strathern advised the vendor.