Scarlett Land and Development is marketing the site at 16 to 26 Forth Street, described as being “situated in one of Edinburgh’s most desirable areas with exceptional access to key city destinations”.

The agent said the site is close to the St James Quarter, Omni Centre, and Edinburgh Playhouse Theatre with George Street and Princes Street “just minutes away, providing an abundance of retail, dining, and leisure options”.

The proposed scheme for a 95-key apart-hotel was brought forward in October and a decision would be anticipated around the middle of the year, with “full potential to vary the pre-application layout for alternative hotel, apart-hotel or hostel uses”.

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The agent said: “Edinburgh’s hotel market is performing strongly, helped by steady tourism and business travel. Demand for good-quality aparthotel accommodation in the city centre is increasing.

“Forth Street offers a rare opportunity for developers, operators and investors looking for stable, long-term returns in one of the UK’s most active hospitality markets.”

A Knight Frank study shows that Scotland’s commercial property market received about £750 million of investment in the first half of 2025.

Hotels were the top-performing property type, driven by strong interest in Edinburgh in particular.

The agent said: “With more hotels set to open over the next year, this high level of investment in the city’s hospitality sector is expected to continue.

“Scotland’s hotel and aparthotel market has shown strong and consistent growth, outperforming the wider UK regional hotel sector.”

Between 2022 and 2025, revenue per available room (RevPAR) across Scottish hotels grew at an average annual rate of 8.1%. By 2024, RevPAR was 29% higher than in 2022, exceeding pre-pandemic levels, and continued to rise into early 2025, with a 30% increase recorded up to April compared with 2022.

The agent said: “This growth has been driven by particularly strong performance in both Edinburgh and regional Scotland. Edinburgh’s hotel market has seen exceptional gains, supported by limited new hotel openings in recent years.

“Central Edinburgh hotels achieved a 41% year-to-date increase in RevPAR versus 2022, highlighting exceptionally strong demand for the city’s high-quality hotel and aparthotel accommodation.”