Safestay agrees £5.35m Edinburgh hostel sale
🏠 Safestay will sell its Edinburgh Cowgate hostel freehold for £5.35m with a 10-year franchise agreement starting December 1, 2025. Originally purchased in October 2023 for £4.3m, Safestay invested £1.2m in refurbishment. It reported £0.95m in revenue and £0.125m profit before tax by December 2024. The franchise will bring £75,000 annually plus fees. Safestay aims to reduce debt and improve financial stability amidst pricing pressures affecting 2025 revenue.
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