MRP, the property development and investment division of construction firm McAleer & Rushe, has secured a pre-let agreement with Dalata Hotel Group for a new four-star Clayton Hotel in Edinburgh city centre.
MRP’s plans for Morrison Street
The 256-room development, at 60 Morrison Street, will be Ireland-based Dalata’s second Clayton Hotel in the Scottish capital.
Located next to the Edinburgh International Conference Centre (EICC), the £95m hotel is now under construction.
“Edinburgh continues to demonstrate strong fundamentals as a hotel market, underpinned by a vibrant tourism sector, a growing conference market and a resilient business economy,” said Angus Monteith, development director at MRP.
Designed to achieve BREEAM ‘Excellent’ and EPC ‘A’ ratings, the development will combine the environmental benefits of retaining and repurposing an existing building.
The scheme builds on the long-standing relationships between MRP, Dalata, McAleer & Rushe and AIB – which has provided development funding – with all four organisations having previously worked together on a number of developments across the UK and Ireland.
Mark Diamond, senior director at McAleer & Rushe, said: “Building on our extensive experience in delivering high-quality hotel developments and complex city centre regeneration projects, this project demonstrates how existing buildings can be successfully repurposed to create modern, sustainable developments that meet changing market needs supporting the continued regeneration of city centres.”
Shane Casserly, deputy chief executive of Dalata Hotel Group, added: “This is an exceptional city centre location adjacent to the EICC, one of the UK’s leading conference venues.”
Last year, Dalata was taken over by Scandinavian consortium Pandox Ireland in a €1.4bn (£1.2bn) deal.
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