Market buoyant

Cenkos deal sees Princes St offices fully occupied

Room with a view: offices in Princes Street

Cenkos Securities, an independent institutional stockbroking firm, has taken a 10-year lease on refurbished penthouse offices in central Edinburgh. 

JLL advised Hines UK on the letting at 124/125 Princes Street which follows the recent letting of the fifth floor suite to Recast, an Edinburgh-based sports video platform.

It means that the seven-story, 38,500 sq ft retail and office building is now at full capacity, with tenants including Urban Outfitters, BDG Design and The Chartered Institute of Housing.

The building was acquired by Hines UK in 2015 on behalf of the Hines Pan-European Core Fund (HECF).

The deal was led by Brian Tweedie at JLL together with Hines landlord James Campbell Adamson, who said: “After a strong end to 2021 with our Recast agreement, securing Cenkos at 124/125 Princes Street means that we have enjoyed a fantastic start to 2022.”

Mr Tweedie added: “This latest deal is another indicator that the office leasing market in Edinburgh is continuing to reinforce itself as a strong regional centre. 2021 saw the capital’s leasing market continue to perform well after a difficult period during the pandemic.”

Cenkos was advised by Galbraith Group throughout the acquisition process.

Pamela Gray, partner at Galbraith, said: “This is a fantastic office within a prominent building and fits well with the ethos and direction of my client’s growing business and commitment to Scotland.”

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