Prime Edinburgh retail property snapped up for £3.3m

7th November 2023 | Jack Oliver

A prime retail property on Edinburgh’s prestigious George Street has been acquired for £3.325m by Buccleuch Property.

The 7,819 sq ft unit at No. 49 is currently let to White Stuff on a new 10-year lease and sits in a prime location between Frederick Street and Hanover Street.

The property also features an unoccupied apartment building to the rear, presenting an opportunity for renovation.

Sitting within the UNESCO World Heritage Site ‘New Town’ area, the property is in close proximity to other retailers in the area including Anthropologie, Hobbs, Jigsaw, Lululemon, Molton Brown, Monsoon, Seasalt, and Sweaty Betty. It is also a five-minute walk from Edinburgh Waverley Train Station.

Buccleuch Property was advised by Lismore Real Estate Advisers, whilst Springford & Co and joint agents FMX Urban Property Advisors, represented the vendor, Columbia Threadneedle Investments.

Chris Thornton, associate of Lismore Real Estate Advisors, said: “Edinburgh is one of the UK’s strongest regional cities, and we are pleased to have secured this prime asset on behalf of our client.

“49 George Street is a prominent retail unit situated in the heart of George Street’s prime pitch which is now fully let with significant occupier demand, with 49 George Street well placed to generate strong rental growth over the coming years.”

Monica McRoberts, director of Springford & Co, added: “Investor interest in prime regional retail assets remains strong and following a successful marketing campaign, we were pleased to conclude this deal.

“George Street, a well-known and highly sought-after address, presented a rare opportunity to acquire one of the most impressive properties along this coveted street.”


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