Retail bargains following failures

Published on Monday 16 March 2009 19:56

KEY retail lettings for Princes Street, Edinburgh, are under negotiation, with deals to be announced over the next four to six weeks. Stuart Moncur, Cushman & Wakefield's head of retail in Scotland, says there are a number of discussions under way. He adds: "Because of business failures, there are vacancies across the market. Retailers are being offered positive packages on premises that 12-18 months ago they could not afford. Princes Street is still regarded as a prime location –

DANWOOD, suppliers of office copying, printing and faxing equipment, has taken a five-year lease on a 5,000sq ft unit at Scot Sheridan's 35,000sq ft New Houstoun Business Park development in Livingston.

THE former Virgin Zavvi store premises in Princes Street, Edinburgh, has been sold for 500,000 by Aberdeen Property Investors (Rettie acting). The buyer, Parcotel, is described as a local authority client, and the transaction includes the upper three floors, with the vendor retaining ownership of the ground floor retail unit.

ALLIANCE Trust, represented by Eric Young, has let the 1,328sq ft third floor at 107 George Street, Edinburgh, to Project Management Partnership for five years at 35,000 a year.

BROOM Estates (King Sturge acting) has concluded another two lettings at 75 Bothwell Street in Glasgow – to Bibby Financial Services and Expert Training, both self-represented. Bibby has agreed a three-year lease of a 795sq ft office suite at an annual rental of 11,925 (15 per sq ft), while Expert Training has taken a 400sq ft on a five-year lease at 6,000 (also 15 per sq ft).

TRAFFIC Design Consultants has taken a five-year new lease on a 1,075sq ft suite at 29 Park Circus, Glasgow, at an annual rental of 9,700. Graham & Sibbald represented the landlord, a private investor.

RENTOKIL Initial Facilities Services has signed a sub-let on 3,170sq ft of office and storage space at Alexandra House in Newbridge. The premises were given a 65,000 refurbishment to meet the needs of Rentokil, represented by DTZ, with Ryden for the landlord.

THE Kilmarnock Arms Hotel at Cruden Bay, Aberdeenshire, has been sold by Christie to a couple who will move from Ireland. It was on the market for offers over 595,000. The hotel is close to the Donald Trump development – and a guest in 1894 was Bram Stoker before he wrote Dracula.

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