Tag: new ownership

Edinburgh restaurant group acquires popular Italian restaurant

Gordon’s Trattoria, a cherished Italian gem situated on Edinburgh’s historic Royal Mile, has been acquired by Merchant Leisure.

Gordon Scott, who opened the restaurant in 1982, recently announced his retirement and has sold the venue for an undisclosed fee to his close friend Jim Tullis, owner of Merchant Leisure. 

Merchant Leisure have announced they wish to keep the restaurant as it is for the time being, and continue ‘serving up authentic Italian cuisine made with passion and the finest ingredients.’ Locals and tourists alike have long enjoyed the restaurant’s authentic cuisine and prominent location, offering customers ‘the heart of Italy in the heart of Edinburgh’. 

Classic Italian dishes populate the menu including ‘Tagliatelle Reale’ – plump King Prawns paired with delicate asparagus and cherry tomatoes, simmered in olive oil, garlic, white wine and parsley. A range of pizzas such as the ‘Primavera’ – topped with parma ham and a balsamic glaze drizzle – are joined by much-loved sharing options like ‘Focaccia’ and a selection of chicken-based dishes such as ‘Pollo Dianne’ – cooked in mushrooms, onions, French mustard and a brandy cream sauce.

Merchant Leisure owns bars & restaurants across the city including The Newsroom, The Piper’s Rest, Burgers & Beers Grillhouse and The Railbridge. Their speakeasy venue Jackson the Tailor, located at the top of Leith Street and inspired by the speakeasy culture of the early 20th century, was recently shortlisted for a prestigious design award by the British Institute of Interior Design. 

Commenting on the takeover, Arthur Mustard, Managing Director at Merchant Leisure Ltd, said: “We are very excited to announce our ownership of Gordon’s Trattoria.

“It’s such an honour to take over an Edinburgh establishment with such rich history and loyal customers. Our plan is to keep the venue as it is for now, serving authentic Italian food in the heart of Edinburgh.

“We look forward to welcoming new customers, as well as meeting the locals who make this restaurant so special.” 

Gordon’s Trattoria is the sixth venue to be listed under the Merchant Leisure umbrella and will continue serving authentic Italian cuisine in the heart of Edinburgh’s historic Royal Mile. 

Castleforge makes third Scottish hotel investment this year

LONDON-based property investment firm Castleforge Partners has announced the acquisition of Edinburgh hotel, the Crowne Plaza Royal Terrace.

The 97-room hotel, located nearby to the newly re-developed St James Centre, will undergo a full refurbishment before being re-launched in March 2022.

This is the third hotel investment Castleforge has made this year, as the firm continues to strengthen its portfolio in the hospitality sector.  In May, Castleforge announced the acquisition of the Bruntsfield Hotel in Edinburgh, shortly followed by the purchase of the Hilton Hotel in Cardiff in June. Castleforge has appointed Axiom Hospitality to manage all three assets.

Since its inception in 2010, Castleforge has invested approximately £1bn, gaining a reputation for value-add investment in office and residential real estate across the UK and Europe.

In 2020, the firm signalled its intentions to expand into the hospitality sector with the appointment of Matt Lederer from Marriott International as its Hotel Acquisitions director.

Property and investment management group JLL advised on the deal, the value of which has been undisclosed.

Matt Lederer, Hotel Acquisitions Director for Castleforge Partners commented: “We are thrilled to add the Crowne Plaza to our portfolio of hotels. It is in a prime location in one of the most exciting areas of Edinburgh and we are looking forward to working with Axiom and IHG Hotels & Resorts to bring the best out of this hotel for guests, staff and investors alike.

“Now is a particularly exciting time to be investing in hotels as the tourism industry shows signs of recovery from the pandemic and we will continue to seek exciting investment opportunities in this space.”

Alex Pritchard, Co-CEO of Axiom Hospitality said: “We are pleased to be working with Castleforge once again on their latest hotel acquisition, particularly in Edinburgh as it is known for having some of the most sought-after hotels in the world.

“We are looking forward to repositioning the hotel, making it an exciting place to work, and welcoming guests from across the UK and abroad.” 

Kerr Young, Director at JLL added: “We are pleased to have been able to facilitate an off-market sale of the Crowne Plaza, Edinburgh.

“This is the fourth hotel transaction JLL have brokered in Edinburgh during 2021 and is yet further evidence on the long-term confidence investors have in the sector.”