95-95a George Street
Edinburgh, EH2 3ESThe Space
Whole Townhouse Investment
At a glance
| Property Type | Investment |
| Tenure | For Sale |
| Size | 2,842 to 6,932 sq ft |
| Price | Offers in excess of £2,700,000 |
| Business Rates | Upon Enquiry |
| Energy Performance Rating | Upon enquiry |
Edinburgh
11 mins
Haymarket
15 mins
Slateford
46 mins
Kingsknowe
65 mins
Chesham
6023 mins
Amersham
6063 mins
Chalfont and Latimer
6083 mins
Chorleywood
6112 mins
Key Points
- Prime Retail & Office Investment
- Offers In Excess of £2.7m
- Incredibly Rare Opportunity
- Class 3 & Class 4 Consent
Description
The property comprises an entire Grade B listed building of stone and slate construction, arranged over five levels. The attractive property retains many of its original quality period features. The subjects benefit from a prominent entrance off George Street to the office accommodation on ground, mezzanine, first, second and third floors providing first class access and presence on to George Street. The self-contained retail accommodation is accessed via George Street with excellent frontage on to the main street.
Available area
The accommodation comprises the following areas:
| Name | sq ft | sq m | Availability |
|---|---|---|---|
| Ground - Ground & Basement | 4,090 | 379.97 | Available |
| 1st - 1st, 2nd, 3rd | 2,842 | 264.03 | Available |
| Total | 6,932 | 644 |
The Location
Edinburgh is Scotland’s capital and administrative centre with a resident population in the region of 500,000 people and an estimated catchment of 1.5m people within a 30 mile radius.
Edinburgh is the most visited tourist and commercial destination in the UK after London with over 4 million tourists visiting the city on average every year. The city is the dominant retail centre for the east of central Scotland amplified by the newly complete mixed use St James Quarter. George Street provides a throughfare to Charlotte Square and St Andrew Square the most prestigious office addresses in the centre of Edinburgh. The main retail pitch is focussed on Princes Street, George Street and Edinburgh’s St James Quarter to the east of the city. The prestigious George Street has cemented itself as Edinburgh’s premier fashion and leisure location with the property situated on the prime north side of George Street between the junctions with Castle Street and Frederick Street. The subjects are located between Whistles and Jo Malone with other occupiers in the immediate vicinity including Space NK, Fazenda, The White Company, Hackett, Gant, Phase Eight, Hamilton & Inches and Laings the Jeweller amongst others.
Tenancy
95 George Street -
Sub-let to Fat Hippo Ltd from 22/02/2023 to 26/10/2026 at £85,000 pa as a result of Costa serving their break notice. From 25/10/2026 there is a reversionary lease in place with Fat Hippo Restaurants Ltd for a period of 10 years (24 Oct 2036) with a tenant break 25/10/2030 with 6 months' notice. The rent will be calculated as being the greater of open market rent or £85,000 pa on commencement of the term with subsequent reviews on a 5 yearly basis to OMR.
95A George Street -
First Floor sub-let to Noble and Company( UK ) Ltd and 2nd and 3rd floors to Clear Park Capital LLP
Proposal
We are instructed to seek offers in excess of £2,700,000 (TWO MILLION SEVEN HUNDRED THOUSAND POUNDS STERLING), exclusive of VAT for our client’s heritable interest, subject to and with the benefit of the existing leases. A purchase at this level would show a net initial yield of 6.44% after deduction of purchaser’s costs.
