Cheval Collection has announced an expansion in Scotland.
From July, the brand will operate two historic properties in the heart of Edinburgh, following an agreement between Mohammed Almarzooqi, managing director of the Cheval Collection and Chris Stewart, chief executive of the Chris Stewart Group (CSG), the owner and developer of the properties.
The virtual signing ceremony was also attended by Mohammed Al Shaibani, chairman of the board of directors for Cheval Collection.
The two properties which will become Cheval Residences from July, include the Edinburgh Grand and Old Town Chambers.
Together, they add a further 100 new apartments to the existing Cheval portfolio of 512 apartments across its eight London Residences.
The deal has been 12 months in the making, sealing a partnership between Cheval and CSG that is expected to cultivate further investment opportunities for both organisations in the future.
Al Shaibani said: “In December 2018 we announced our vision for the Cheval Collection to expand beyond London and to manage both third party assets and invest in new properties both in the UK and overseas.
“We are delighted that we have now secured the perfect partner for our UK expansion.
“The CSG portfolio in Edinburgh perfectly matches our vision and follows announcements of our plans to expand in Frankfurt and Dubai in the future.”
The Cheval Residences in Edinburgh will attract both business and leisure travellers for short and long-term stays.
Located in prime city hotspot, St Andrew Square, Cheval the Edinburgh Grand includes 50 apartments, with the tram station just outside of the residence enabling guests to easily travel straight from the airport.
Waverley Train Station is also just a three-minute walk from the apartments.
George Westwell, chief executive 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 pre-eminent leader in luxury serviced apartment accommodation worldwide for any length of stay.”
Located in Edinburgh’s Old Town and a few yards from the Royal Mile, but far removed from the crowds, Cheval Old Town Chambers includes 50 apartments.
A further 25 apartments, opening on to the Royal Mile, will be opened in 2021.
Opposite St Giles Cathedral, a five-minute walk from the castle and the galleries and museums, this residence boasts one of the best locations in the heart of old Edinburgh.