95-96 Princes Street Edinburgh EH2 2ER

95-96 Princes Street
Edinburgh
EH2 2ER

Prime Freehold Retail Investment

Comprises two retail units arranged over five floors in Edinburgh's Prime City Retailing Location
Ground, First, Second and Third floors let to Black Sheep Coffee Bar Limited (t/a Black Sheep)
Black Sheep lease expires April 2037 (no breaks) with CPI index-linked 5-yearly rent reviews (min. 1% and max. 3%)
Lower Ground let to Mobile Plus Livi Limited (t/a Mobile Plus) until June 2029 (no breaks)
Approximately 5,450 sq. ft. (506.30 sq. m.)
Close to Edinburgh Waverley Railway Station and Fronts on to Edinburgh Castle
Nearby occupiers include Harvey Nichols, Marks & Spencer, Sainsbury's, Costa Coffee, Caffè Nero, Boots the Chemist, Superdrug, The White Company, Primark, H&M, River Island and Levi's

Lot
22
Auction
21st September 2023
Rent
£122,500 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

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Prime Freehold Retail Investment

Comprises two retail units arranged over five floors in Edinburgh's Prime City Retailing Location
Ground, First, Second and Third floors let to Black Sheep Coffee Bar Limited (t/a Black Sheep)
Black Sheep lease expires April 2037 (no breaks) with CPI index-linked 5-yearly rent reviews (min. 1% and max. 3%)
Lower Ground let to Mobile Plus Livi Limited (t/a Mobile Plus) until June 2029 (no breaks)
Approximately 5,450 sq. ft. (506.30 sq. m.)
Close to Edinburgh Waverley Railway Station and Fronts on to Edinburgh Castle
Nearby occupiers include Harvey Nichols, Marks & Spencer, Sainsbury's, Costa Coffee, Caffè Nero, Boots the Chemist, Superdrug, The White Company, Primark, H&M, River Island and Levi's

Lot 22
Auction 21st September 2023
Rent £122,500 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 43 miles east of Glasgow
Roads: A7, A720, M8, M9
Rail: Edinburgh Waverley Station
Air: Edinburgh International Airport

Situation

Edinburgh is Scotland’s capital City and the historic, administrative and financial centre of the country, as well as the home of the Scottish Parliament. The City has a population of 550,000 and is the second most visited city in the UK with an average 4 million visitors per year.

The property boasts excellent communication links being within close proximity to A1, A9, M8 and M9, as well as being 300 yards west of Edinburgh Waverley Station. The property is prominently situated in the heart of Edinburgh's prime retailing centre on the north side of Princes Street at its junction with Frederick Street. Nearby occupiers include Harvey Nichols, Marks & Spencer, Sainsbury's, Costa Coffee, Caffè Nero, Boots the Chemist, Superdrug, The White Company, Primark, H&M, River Island and Levi's.

Tenure

Heritable. (Scottish equivalent of Freehold).

Location

Miles: 43 miles east of Glasgow
Roads: A7, A720, M8, M9
Rail: Edinburgh Waverley Station
Air: Edinburgh International Airport

Situation

Tenure

Heritable. (Scottish equivalent of Freehold).

Description

The property, understood to be the last surviving completely intact Georgian town house on the main street, comprises two self-contained retail premises with one occupying the lower ground floor and the other occupying the ground, first, second and third floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

See Legal Pack.

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Rent Review
Ground First Second Third	Retail Retail Ancillary Ancillary	68.84 144.55 125.69 111.48	(741) (1,556) (1,353) (1,200)	BLACK COFFEE SHEEP BAR LTD (t/a Black Sheep) (1)	15 years from 08/04/2022 (2)	£85,000 (3)	08/04/2027 08/04/2032
Lower Ground	Retail/Ancillary	55.74	(600)	MOBILE PLUS LIVI LIMITED (t/a Mobile Plus) (4)	8 years from 01/07/2021 (5)	£37,500	-
Total		506.30	(5,450)			£122,500

(1) Black Sheep Coffee Bar Limited have been established since 2014 and trade from over 50 shops across the UK (www.leavetheherdbehind.com).
(2) The shop is let on full repairing and insuring terms, subject to a Schedule of Condition.
(3) Under the terms of the lease, the current contractual rent is £85,000 p.a.x. plus an additional 9% turnover top-up (please refer to the legal pack). The rent reviews are upward only, compounded to CPI index linked, capped and collared at 3% and 1% respectively.
(4) Mobile Plus Livi Limited sell a variety of technological appliances including wireless earphones, phone cases, speakers, as well as repairing mobile phones. They have been established since 2014 and trade from 3 other stores in Scotland (www.mobileplusedi.com).
(5) A rent deposit of £7,500 is held by the landlord.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.