Radisson Blu in Edinburgh hits the market for £59 million

The owners of the 238-room Radisson Blu Hotel on the Royal Mile, in Edinburgh, Scotland, are asking of £59 million for the property. Word is The Park Inn by Radisson in Manchester and The Quay Leisure Park in Glasgow have also both been put up for sale.

Those properties are on the market with a combined asking price of £132.3 million.

CBRE and JLL have been appointed to sell the properties.

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Kerr Young, director of hotels and hospitality for JLL, said: "This portfolio gives investors the opportunity to acquire not only a secure income stream with great covenant strength, but also prime real estate in two key UK cities."

Paul Collins of CBRE Hotels said: "We are seeing substantial trading growth in the Edinburgh and Manchester hotel markets and this will enhance the future rental income for the buyer of these rarely available hotels which are on performance leases."