New store for lingerie chain
Ann Summers to expand in Princes Street
A new flagship store, which will open at the end of June, will cover 2,833 sq ft and has been secured on a ten year lease at an annual rental of £257,000.
Stuart Moncur, head of national retail & occupier aervices – UK for Cushman & Wakefield, said: “Ann Summers have been over trading from their premises on Princes Street for some time. Therefore, they have been actively seeking a flagship store opportunity and we are delighted to have assisted them with securing this new store.
“Ann Summers’ long term commitment to Edinburgh and specifically Princes Street is an indication of how well the city is performing in terms of the retail provision. This will be further bolstered with the redevelopment of St James Shopping Centre, which will complement the likes of Princes Street and George Street.
“The popularity of Princes Street continues to improve following the completion of the tram works and we have a number of other lettings which we will be able to announce in the near future. Princes Street is in good health.”
The new store at 87 Princes Street will replace the neighbouring store.
Cushman & Wakefield represented Ann Summers. CBRE Global Investors on behalf of AKZO Nobel (CPS) Pension Trustees was advised by CBRE.