Investor backs city hotel with £1.2 million support

An investment company has boosted a hotel development with £1.2 million support.

Develop North has backed family-run Archibald Hotel Collection’s conversion of an Edinburgh Georgian townhouse into a 16-bedroom venture.

Bosses say the work on the early 19th century property, which is known as 3 John’s Place and based in Leith, has created a “high-end” venue that “respects the area’s heritage”.

Brendan O’Grady, fund manager at Newcastle-based Tier One Capital, which oversees Develop North, said: “We are committed to supporting professional businesses with ambitions to deliver high-quality, sustainable development projects.

“This scheme is a great example that benefits the local economy and enhances the visitor experience.”

Caroline Claydon, director at Archibald Hotel Collection, which operates properties in Edinburgh and Southport, added: “We’re proud to be contributing to the continued regeneration of Leith with a contemporary hotel.

“The support from Develop North is enabling us to complete this project with confidence and flexibility, and we’re delighted to have welcomed our first guests.”  

Since its founding in 2017, officials say London Stock Exchange-listed Develop North has deployed more than £80 million in capital, which has supported 39 projects and helped create more than 12,000 jobs.

It last month unveiled a real estate growth blueprint aimed at expanding financial support for North East businesses, housing and regeneration projects.

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