Development Opportunity at 29 Albany Street, Edinburgh EH1

Knight Frank presents a rare opportunity for investors and developers to acquire a fully consented aparthotel development site in the heart of Edinburgh's prestigious New Town.

29 Albany Street comprises an A-listed Georgian townhouse complemented by a modern rear extension, offering the opportunity to deliver a boutique 17-room aparthotel in one of Edinburgh's most sought-after city centre locations. The proposed scheme provides a thoughtfully curated mix of classic rooms, executive suites and family units, with selected rooms incorporating self-catering facilities, appealing to both leisure and corporate guests.

• Rare opportunity to acquire a consented aparthotel development site in Edinburgh's highly sought-after New Town

• Full planning permission and Building Warrant secured for the conversion and redevelopment of the property into a 17-room aparthotel

• A-listed Georgian townhouse with a modern rear extension, combining heritage character with contemporary design potential

• Proposed accommodation includes a mix of classic rooms, executive suites and family units

• Opportunity for an incoming purchaser to deliver the development to their own specification, branding and operational model

• Sympathetically designed plans incorporating the restoration and utilisation of three under-pavement cellars for plant, storage and servicing

• Prime city centre location within walking distance of Princes Street, Waverley Station, Edinburgh Old Town and the city's key tourist and commercial destinations

• Strong market fundamentals supported by Edinburgh's resilient and internationally recognised hospitality sector

• Detailed planning information, drawings and technical documentation available on request

With continued demand for high-quality aparthotel accommodation in central Edinburgh and a constrained development pipeline within the city centre, 29 Albany Street represents a compelling development and investment opportunity.

Further information, including planning documentation, Building Warrant details and the full information pack, is available on request from Knight Frank.

Some images have been computer generated and are for illustrative purposes only based on the potential finished product approved under planning and build warrant.

Rateable Value: £49,000 effective from 01-APR-26

29 Albany Street offers a boutique aparthotel located in Prime Central Edinburgh, just moments from the capital’s key attractions, business districts, and vibrant cultural scene. Situated within the city’s historic New Town, a UNESCO World Heritage Site, this elegant address is surrounded by grand Georgian architecture and cobbled streets steeped in history.

Guests are a short walk from Edinburgh’s premier shopping and dining destinations, including Princes Street, George Street, Multrees Walk, and the St James Quarter. The area is also home to acclaimed restaurants, independent boutiques, and a lively nightlife scene, making it equally attractive to both leisure and business travellers.

With excellent transport links including Waverley Station, the city’s tram network with direct airport access, the main bus station, and easy road connections, 29 Albany Street combines convenience with character. Edinburgh Castle, the Royal Mile, and the atmospheric lanes of the Old Town, also a UNESCO site, are all within easy reach.

Stylish, central, and exceptionally well-connected, this aparthotel represents a prime base for visitors seeking both comfort and an authentic Edinburgh experience.