Costa Coffee to open outlet in New Waverley project

Picture: PA
Picture: PA
Share this article
1
Have your say

ONE of the UK’s largest coffee chains is to open a new cafe in a major retail and leisure development situated in the heart of the Capital.

Bosses at Costa Coffee have confirmed they will launch a branch in the £150 million New Waverley project, located in Edinburgh’s Old Town.

Due to open this month, it will be the latest arrival at the development, which will feature shops, cafes, restaurants, a civic square, three hotels, offices, apartments and town houses when it is complete.

Covering 2573 sq ft, the café is situated in East Market Street in a unit below the Whitbread Premier Inn hotel.

The premises have been secured on a new 15-year lease and at a rent of £38,000 per annum.

Situated adjacent to the Waverley Arches – a bustling parade of shops and restaurants – the café is in a prime location close to the city council’s headquarters.

Isla Monteith, partner at Cushman & Wakefield, who represented Costa, said: “We are delighted to have secured premises for Costa in what is going to be one of Edinburgh’s must-visit locations, linking the station and the Old Town.

“It is very exciting to see New Waverley beginning to take shape and breathing new life into this part of the city.”

She added: “I am sure the new Costa will be very popular with office workers, tourists, shoppers and commuters.”

Eric Young & Co acted for the landlord Artisan Real Estate Investment.

With over 1600 coffee shops in the UK and more than 1000 overseas, Costa is the fastest growing coffee shop business in the UK.

It also runs the second largest operation of its kind in the world.

Founded in London by Italian brothers Sergi and Bruno Costa in 1971, Costa recently diversified into both the at-home and gourmet self-serve markets.