The owner of the Gleneagles golf resort is to open a members club and boutique hotel in St Andrews Square, Edinburgh.
GH Holdings, which owns the 850-acre estate, five-star 232-bedroom hotel, spa and golf resort in Auchterarder, is buying the former Lloyds Bank at 37-39 St Andrews Square for £10m.
The hospitality group is still finalising its plans for the block, but it will serve as an outpost of the main resort.
Initial plans for the 35,000 sq ft property include a boutique hotel of around 15 bedrooms on the upper floors with a series of bars and restaurants on the ground floors, one of which would be exclusively for the use of Gleneagles members.
The building is Category-A listed, so the main façade would be retained along with some of the original features of the main former banking hall at the back of the building, which is renowned for its gold ceiling.
Gleneagles is also understood to be looking to open a second similar outpost for the brand in London’s Mayfair, W1.
The original Gleneagles resort is most famous for hosting golf’s Ryder Cup and the G8 Summit.
In addition to its sporting facilities it has four restaurants, including the Restaurant Andrew Fairline – the only restaurant in Scotland to have been awarded two Michelin stars.
GH Holdings is a subsidiary of global hospitality group and Hoxton hotel owner Ennismore, which acquired the group when it bought the Scottish resort from drinks giant Diageo in 2015 for £150m.
CBRE is acting for Lloyds.
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