Tigerlilly building changes hands for almost £10 million

THE George Street property which houses popular club Tigerlilly has been sold for almost £10 million.

Estate agents behind the 9.6m deal have hailed the sale as a sign of a looming recovery in the commercial property market.

Alliance Trust Real Estate took the bold step of putting 125 George Street on the market at a time when many other premium property owners are guarding their assets.

Colin Finlayson, of Jones Lang LaSalle, handled the sale to Lothbury Property.

He said: "It's a prime property which has recovered its value quite a bit in the last 18 months, largely through its prime location on George Street and the fact that it's got a good, strong tenant on a long lease."

The entire property is let to Belhaven Brewery Company Ltd until April 2030, and sub-let to Tigerlilly operator Montpeliers (Edinburgh) Ltd.