City centre unit on the block

‘Rare opportunity’ as Princes Street offices on sale for £16m

Urban OufittersA seven-storey office block in Princes Street, Edinburgh is on the market with an asking price of more than £16 million.

The building includes Urban Outfitters in 15,000 sq feet at street level and basement. The Royal Institution of Chartered Surveyors, Chartered Institute of Housing, MBM Commercial and BDG Architecture and Design are the other occupiers.

Cushman & Wakefield is marketing the 124/125 Princes St for offers over £16.42m, according to Property Week. The building generates rental income of more than £1m a year and has 17 car parking spaces.

Steven Newlands, partner in the Scotland capital markets group at Cushman & Wakefield, told the magazine: “This is a rare opportunity for investors to own an entire block in a prime location in Princes Street – properties of this calibre don’t come up very often.”

RICS has just refurbished its offices which were designed by Michael Laird Architects, project managed by Jones Lang LaSalle and fitted out by Souness and Boyne.

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