THE future of one of the biggest cultural venues in Edinburgh is in question after owners have announced plans to sell the site.

Summerhall is an iconic Fringe venue based just off the Meadows, housing more than 100 businesses and attracting more than one million visitors each year.

Yet the future of the complex is now uncertain – with the estate agents handling the sale saying the site has “endless” potential for developments such as student housing or “boutique hotels”.

The National: Summerhall reception.

Oesselmann Estate Limited, owners of Summerhall, announced their intention to sell the building on Tuesday, with all the current licences included.

The sale will not affect the venue’s plans for this year’s Edinburgh Fringe.

The venue has developed over the last 13 years into a staple of Edinburgh’s arts and culture scene. It offers a programme of live music, visual arts and performance as well as a range of community projects.

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Reflecting on the sale, Robert McDowell, director of Summerhall Management Ltd, said he was “so proud” to build a space that “adheres to the original spirit of the festival”.

McDowell continued: “In 2011, buying the old Vet School Buildings was ambitious - a small team worked alongside me to bring in some of the best arts in Edinburgh especially during the Festivals and year-round including the Science Festival and others such as year-round art and music programmes.

“I am so proud to say that I have been part of building a space that adheres to the original spirit of the festival and has provided a space for artists, creators and makers to play, build and grow over the years.

“My hope is that with new owners buying the building, Summerhall will be strengthened for the future - and continue its miraculously extraordinary activities, new investment and vigour for the next decade and beyond.”

Stephen Kay of CuthbertWhite, the estate agents handling the sale, said: “We are excited to be bringing this to the open market and we expect considerable interest in this property from a wide range of domestic and international parties.

“It is an important landmark in the history of Edinburgh, occupying an enviable location overlooking the Meadows.”