Pawnbroker and charity shop snap up vacant city outlets

A PAWNBROKER and a charity shop are to open in two vacant units on Nicolson Street.

Age Scotland has signed a new ten-year lease for the former SemiChem unit at 112 Nicolson Street, while pawnbroker Albemarle Bond has agreed a deal to move into the shop at number 80.

It will be Albemarle Bond’s first city centre location in Edinburgh, although it already has one shop within Westside Plaza at Wester Hailes.

Age Scotland will open its second Edinburgh store, in addition to its existing outlet in Stockbridge.

Will Biggart, surveyor at Ryden, the property firm that signed up both of the new occupiers, said: “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.

“Rents on this street have been on the rise during the recession. In one instance, a 50 per cent 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.”

The Age Scotland shop will extend to 1196sq ft, with the rent eventually rising to £40,000 a year. Albemarle Bond has taken a 1038sq ft space on a 15-year lease at a rent of £30,000 a year.