51 & 51A George Street, Edinburgh

Ross Burnett

Partner, Capital Markets

0131 221 2483
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Property Details

51-51a George Street is a prime retail and leisure investment.

  • Edinburgh is Scotland’s capital city, with a population of 487,500.
  • George Street is one of Edinburgh’s prime retail and leisure pitches, with several high-end fashion and designer retailers, and a recognised bar/nightclub/restaurant destination.
  • Comprises a prime retail unit with a bar/nightclub at basement level.
  • Retail unit let to Laura Ashley Limited (D&B: 5A1) until 28/01/2021 (3.4 years) remaining) at a rental of £300,000 per annum (£185.80 psf ITZA).
  • Basement let to Belhaven Brewery Company Limited (D&B: 5A1) guaranteed by Belhaven Pubs Limited (D&B: 5A1), and sublet to Montpeliers (Edinburgh)Limited t/a “Opal Lounge” (D&B: 4A2) until 14/01/2026 (8.4 years remaining) at a rental of £145,000 per annum (£23.58 psf).
  • Total income of £445,000 per annum.
  • We are instructed to seek offers in excess of £8,000,000 (Eight Million Pounds) exclusive of VAT for the benefit of our client’s heritable interest. A purchase at this level would provide a net initial yield of 5.24%, after allowing for purchasers costs of 6.18%.
 

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