One of Scotland’s best located buildings has been put on the market for offers in excess of £16.42m.
124/125 Princes Street, which is at the western end of one of the UK’s most iconic retail destinations and has panoramic views of Edinburgh Castle, is being sold by clients of F&C REIT and marketed by Cushman & Wakefield.
The seven storey building features a prominent retail unit at ground floor and office accommodation on the upper floors.
124 Princes Street is currently occupied by clothing store Urban Outfitters and was extensively refurbished before they took occupation. It offers 1,389 sq m (14,955 sq ft) over ground, basement and mezzanine levels.
Home to RICS, the Chartered Institute of Housing, MBM Commercial and BDG Architecture & Design Limited, 125 Princes Street covers 2,178 sq m (23,439 sq ft) over five floors and the RICS office space was shortlisted for a prestigious refurbishment award.
Together 124 and125 generate a total rental of over £1m a year and provide 17 car parking spaces.
Steven Newlands, Partner, Capital Markets Group – Scotland for Cushman & Wakefield, said: “This is a rare opportunity for investors to own an entire block in a prime location in Princes Street – properties of this calibre don’t come up very often. With trams now running successfully and increasing footfall levels, Princes Street is much in demand with retailers, with recent lettings to 3 Store, Halifax and Vodafone nearby testifying to the desirability of this pitch.”
Surrounded by brands such as New Look, Waterstones, Curry/PC World, HSBC and Phones 4 U, the building also sits within the heart of Edinburgh’s “Golden Rectangle” – the city’s prime office location focused around George Street and Princes Street and bounded by Charlotte Square to the west and St Andrew Square to the east.
For a brochure or further information contact Steven Newlands on 0131 226 8756 or Calum Cowe on 0131 226 8759.