Hurstwood Holdings Subsidiary Acquires Maybury Casino in Edinburgh for £2.9 Million at 15% Yield

AM Sci Tech, a subsidiary of Hurstwood Holdings, acquired Maybury Casino in Edinburgh for £2.9 million. The purchase price reflects a net initial yield of circa 15%.

The acquisition represents a strategic addition to Hurstwood’s growing Scottish investment portfolio. It strengthens the group’s presence in the capital following its recent acquisition of 7 Lochside View at Edinburgh Park.

Stephen Ashworth, Hurstwood Holding Executive Chairman, said in a statement: “The acquisition of this unique building is a fantastic addition to our growing Scottish portfolio. The Maybury is a prominent and iconic Edinburgh landmark, let to a strong covenant and situated within an established and expanding residential catchment. Opportunities to acquire assets of this quality and character are rare and we are delighted to have secured the property.”

Asset Specifications and Tenancy

The Maybury is 21,991 square feet over two floors and occupies a 1.4-acre site with 70 dedicated parking spaces. It features multiple gaming floors, bar and lounge areas, private function rooms and staff facilities. The interior combines a modern leisure fit with architectural elements reflective of its historical origins.

The property is fully let to Grosvenor Casino Limited, benefiting from fixed annual rental uplifts of 2.5% and about four years remaining on the lease. The lease is further underpinned by a guarantee from Rank Group Gaming Division Limited. Grosvenor also has recently undertaken a program of external improvement works to the building.

Funding for the acquisition was provided by property lender Together, which has an £8.4 billion loan book.

Mark Goldberg, Together CEO, said: “This was a fantastic result for all involved and we were pleased to be able to support Hurstwood with this acquisition. The Maybury combines exceptional architectural heritage with strong income characteristics.”

Gordon Pirie, fund manager of AM Sci Tech, added the acquisition is a rare opportunity for Hurstwood to acquire “one of Edinburgh’s most recognizable Art Deco buildings in one of the UK’s most dynamic and fastest-growing cities.”

The Maybury dates to 1935 when it was originally constructed as the Maybury Roadhouse and Diner. It was converted into a casino in the late 1990s. As reported by CDC Gaming, the transaction adds an iconic asset to the portfolio.

Portfolio Expansion in Scotland

The deal equips Hurstwood with a fully tenanted property delivering immediate income via the 2.5% uplifts and existing lease structure backed by a strong covenant. Attention now turns to the position in four years when the term ends and what that requires for continued occupancy in a growing residential area. The purchase reinforces a pattern of targeting rare, high-character assets in Edinburgh that combine heritage with reliable gaming income streams.

Reporting: CDC Gaming

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