Luxury opening

Omega joins the rush to Edinburgh’s style quarter

Omega joins the line-up of luxury brands in Multrees Walk (pics: Omega and Terry Murden)

Omega, the Swiss watchmaker, will become the latest luxury brand to launch in Edinburgh’s fashion quarter.

The company has taken a unit in Multrees Walk, currently home to major brands such as Louis Vuitton, Burberry, Mulberry and Hyundai’s top-end Genesis marque.

Earlier this month Daily Business revealed that Gucci is opening in the street, taking 4,700 sq ft in the former units of Hugo Boss and Caffe Nero.

Laings, the Scottish luxury jeweller, is opening a second TAG Heuer boutique, marking its commitment to bricks and mortar retail. It will take a unit previously occupied by clothing retailer Oliami .

A spokesperson for Multrees Walk, which is anchored by the Harvey Nichols department store, said: “It’s an exciting year for Multrees Walk, with several new tenants due to open this year. 

“We are excited to announce that the Swiss watchmaker Omega will be joining our portfolio of luxury lifestyle brands and will be opening a store.

“We are proud to be home to many stylish brands, supporting the demand for luxury experiences and products in Edinburgh, and are excited to welcome even more leading brands this year.

Retail park sold

Paton’s Mill Retail Park, located on the edge of Johnstone, Renfrewshire, has been sold in a £7.9 million deal.

It has been acquired by OCO Group – a special purchaser and operator of the on-site Starbucks franchise – for a price in line with the asking price.

Knight Frank represented Knight Frank Investment Management Long Income Property Unit Trust (KFIM LIPUT), the vendor.

KFIM LIPUT forward funded the original development in 2018 on the former site of Paton’s Mill, a historic textile plant.

The park consists of two retail warehousing units of 17,150 sq. ft. and 15,286 sq. ft., which are let on long-term leases to Aldi and Home Bargains, respectively, alongside the 2,222 sq. ft. drive-thru unit currently occupied by OCO.

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