Aberdeen Asset Management has become the new landlord of the Malmaison Hotel following a £21.8million deal.
The fund manager snapped up the Aberdeen property from Aviva Investors.
The property is one of the Granite city’s iconic hotels and comprises 79 rooms, a restaurant, wine tasting cellar, whisky shop, spa and gym.
Developed in 2008, the hotel is let to Malmaison until 2046 at a current rent of £1.15million per annum.
Jon Bailey, Fund Manager at Aberdeen Asset management, said: “The property is unique in a market that is continuing to grow and with around 32 years remaining on the lease, it is well suited to our client’s portfolio requirements.”