Redefine International, the Johannesburg and London-listed income focused UK Real Estate Investment Trust, on Monday said it had acquired Doubletree by Hilton Hotel in Edinburgh’s city center for £25.27 million ($41.3 million).

The company said the purchase of the hotel will firstly be financed by Redefine International’s existing cash resources.

It is expected that Doubletree will be housed in the 71.05 percent held subsidiary Redefine Hotel Holdings Limited. It will be financed by Aareal Bank, which is headquartered in Wiesbaden, Germany and is among the leading international property specialists. Mike Watters, CEO of Redefine International, said the deal was subject to a no-vote in the Scottish referendum.

“Now that the uncertainty surrounding this has been removed we are very pleased to have secured this opportunistic investment in the city of Edinburgh which complements our existing hotel portfolio and plays well to the management skills of Redefine BDL,” Watters said.

Last week, voters in Scotland chose to stay in the UK in a historic independence referendum. This came as a major relief for a British government that offered big concessions to hold the 307-year-old union together. According to Mail Online, however, the trounced SNP leader, Alex Salmond, on Monday morning blamed Westminster of ‘tricking’ Scottish voters into snubbing separation. He then went on to suggest that Scotland could declare independence without a referendum.

Doubletree has 138 bedrooms which have been refurbished extensively recently, providing high quality flexible accommodation appealing to both business travellers and tourists.

The acquisition also includes the separate heritable title of The Chanter public house, located on the ground and basement floors of the property.

As Scotland’s capital city and the UK’s second largest financial centre after London, Edinburgh is a key hub in the UK transport network and a thriving year round tourist destination. Doubletree will be let to Redefine Hotel Management Limited, a wholly owned subsidiary of Redefine BDL Hotel Group Limited, in which Redefine International has a 25.28 percent shareholding.