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09 November 2023
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Ogier has successfully facilitated a landmark transaction for Tristan Capital Partners and Queensway, acquiring a strategic property in Edinburgh's prestigious St Andrew Square.
This acquisition, conducted on behalf of Tristan's European Property Investors Special Opportunities 6 (EPISO 6) fund, signifies a major expansion of the Point A Hotels platform, further cementing Ogier's expertise in the acquisition of real estate investment structures.
The 63,195 sq ft property, set in the historically significant and centrally located St Andrew Square in Edinburgh's New Town, is poised for transformation into a Point A hotel. This development is a key part of Tristan and Queensway's strategy to enhance their hospitality portfolio in prime urban locations.
Kristian Smyth, managing director, Investments at Tristan Capital Partners, highlighted the location's excellence: “St Andrew Square is a marquee location in one of the strongest hotel markets in Europe. We believe the addition of another Point A in the Scottish capital to complement our existing offer in Haymarket will be a positive for both our platform and the city of Edinburgh.”
Naushad Jivraj, CEO of Queensway, shared his enthusiasm for the project's potential to cater to significant consumer demand and its contribution to the city's vibrant economic and social scene.
The Ogier team, led by Corporate partner Raulin Amy with the support of managing associate Kevin Grové, and associate Mark Watson, collaborated effectively with onshore counsel Brodies and BCLP, playing a pivotal role in strategic acquisition of the Edinburgh property for the Point A hotel group and Tristan Capital's EPISO 6 fund.
Reflecting on the deal, Raulin said, “We are delighted to be able to assist Tristan Capital again with this acquisition. We have been working with them and Queensway on the Point A hotel portfolio for some time now since their original investment and it is exciting to see its continued expansion.”
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