A former luxury hotel is being listed on the market for keen investors.

Corstorphine House is for sale, for $3.8m.

The privately-owned property in Milburn Street used to be a high-end hotel and function venue.

Famous guests include Prince Charles, Gwyneth Paltrow and Chris Martin.

Property broker Adrian Chisholm says the house would be a smart investment for hospitality vendors, with increasing interest in the local tourism sector.

The house was built in 1863 and sits on a 3ha section.