Luxury serviced apartment brand Cheval Collection has announced plans to expand beyond London, with the addition of two “historic properties” in Edinburgh.
The Edinburgh Grand and Old Town Chambers are currently being marketed under the Lateral City brand, but will become Cheval Residences on July 1.
They will add 100 apartments to the group’s existing portfolio of 512 apartments at eight London properties.
Cheval The Edinburgh Grand is located on St Andrew Square close to Waverley rail station, and features 50 one, two and three-bedroom apartments, including a penthouse apartment with wrap around roof terrace.
Facilities include a Hawksmoor steak restaurant, lower ground floor bar and restaurant Lady Libertine, and cocktail lounge and bar The Register Club.
The property also offers The Director’s Suite, a meetings and events space for up to 12 guests, and a Cave Fit gym.
Meanwhile the nearby Cheval Old Town Chambers is located opposite St Giles Cathedral, and also features 50 apartments, with a further 25 set to be added opening onto the Royal Mile in 2021.
The property offers studio, one, two and three bedroom apartments, as well as a three-level, two-bedroom townhouse dating back to the 14th century and with its own private entrance.
Recent analysis from global real estate advisor CBRE suggests that the UK cities of Edinburgh, Glasgow and Manchester “are amongst the key European cities well positioned for hotel performance recovery” post-coronavirus.
Commenting on the addition of the Edinburgh properties, George Westwell, CEO of Cheval Collection, said:
“We are delighted to announce this new agreement as part of our long-term expansion plans. The Chris Stewart Group with some of the most historically rich buildings in Scotland’s capital was our first choice for Edinburgh when we opened discussions in 2019.
“These will be our first properties outside London and a huge step in our ever-evolving journey and ambition to become the preeminent leader in luxury serviced apartment accommodation worldwide for any length of stay.”
As reported by Business Traveller earlier this year, the group’s Cheval Gloucester Park property in London’s Kensington district has recently undergone a multi-million pound renovation project, including the addition of a 12-seat cinema room.
For our 2019 feature looking at how fresh design is helping the serviced apartment sector to flourish, see: