Cheval announces expansion in Scotland

Eloise Hanson Eloise Hanson Uploaded 21 May 2020

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UK: From July 2020, Cheval Collection will brand and operate two properties in the centre of Edinburgh as part of its long-term vision for the UK and international growth.

The Edinburgh Grand and Old Town Chambers will add 100 new apartments to Cheval’s existing portfolio of 512 apartments across its eight London Residences.

Cheval The Edinburgh Grand includes 50 one and two-bedroom apartments, with a three bedroom penthouse on the seventh floor.

The property also features The Director’s Suite, a 12 guest private dining area, The Register Club, a cocktail lounge and bar, and a CaveFit gym.

Affiliated with Cheval The Edinburgh Grand though independently run is the Hawksmoor Restaurant, and Lady Libertine, a lower ground bar and restaurant.

Cheval Old Town Chambers includes 50 apartments, with a further 25 opening on to the Royal Mile in 2021.

The apartments comprise one and two bedrooms, or an open plan studio. There is a one and three-bedroom penthouse with terraces, as well as a two-bedroom medieval townhouse.

The agreement was signed between Mohammed S Almarzooqi, managing director of the Cheval Collection and Chris Stewart, CEO of the Chris Stewart Group (CSG), owner and developer of the properties.

The virtual signing ceremony was also attended by His Excellency Mohammed Al Shaibani, chairman of the board of directors for Cheval Collection Ltd. He said: “In December 2018 we announced our vision for the Cheval Collection to expand beyond London and to manage both third party assets and invest in new properties both in the UK and overseas.  We are delighted that we have now secured the perfect partner for our UK expansion. The CSG portfolio in Edinburgh perfectly matches our vision and follows announcements of our plans to expand in Frankfurt and Dubai in the future.”

George Westwell, CEO of Cheval Collection, said: “We are delighted to announce this new agreement as part of our long-term expansion plans. The Chris Stewart Group with some of the most historically rich buildings in Scotland’s capital was our first choice for Edinburgh when we opened discussions in 2019. These will be our first properties outside London and a huge step in our ever-evolving journey and ambition to become the pre-eminent leader in luxury serviced apartment accommodation worldwide for any length of stay.”

Stewart added: “We are recognised as innovative developers and operators of complex listed buildings and we found that passion for exceptional quality products and service reflected in our Cheval Collection partners. This agreement for The Edinburgh Grand and Old Town Chambers provides access to premium sales channels that were previously closed to us as independent operators and realises another step forward for our growth strategy. We are confident that the combination of our expertise for property design and development combined with Cheval’s quality brand and sales reach will open up many further opportunities.”

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