New retailers for Edinburgh’s Nicolson Street
4 October 2011
Property consultant Ryden has signed up two new occupiers in quick succession for Edinburgh’s Nicolson Street.
At number 112, charity Age Scotland signed a new 10 year lease for the former Semi Chem unit extending to 1,196 sq ft. A stepped rental rising to £40,000 per annum was agreed. Culverwell acted on behalf of Age Scotland in the transaction.
Pawnbroker Abermarle and Bond, represented by Hartley Cowley, has taken the 1,038 sq ft 80 Nicolson Street. The unit has been secured on a 15 year lease at £30,000 per annum.
Will Biggart, surveyor at Ryden comments: “Over the past two years, Ryden has concluded numerous deals on Nicolson Street to retailers including William Hill and Ryman and these latest transactions demonstrate the continuing popularity of the area. The vicinity boasts unique qualities in that it is the main arterial route connecting the city centre to the south, has a large residential population and benefits from both the University and Festival.”
He added: “Rents on this street have been on the rise during the recession; in one instance a 50% increase on the previous rent was achieved. We are also aware of several retailers that are currently actively looking to secure space on the street, reinforcing its popularity.”
