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For Sale
Hanover House, 45-51 Hanover Street, New Town, Edinburgh, Scotland, EH2 2PJ
Tenure

For Sale

Type

Investment

Price

Offers in Excess Of £7,250,000

Size

16,961 Sq Ft

Ref No

18286

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Property Highlights

  • Exceptionally rare opportunity to purchase an entire mixed-use block within Edinburgh City Centre
  • Superb location on the East side of Hanover Street between George Street and Princes Street
  • Impressive tenant line-up providing a diverse mix of income and uses (57% retail, 31% office, 12% leisure)
  • Tenants; Pret A Manger, Jojo Maman Bebe, Paddywax, El Barrio Latino, Mackerel Media, Mekon AIS, Lycetts and Innovate UK
  • Total passing rent of £524,250 per annum
  • WAULT of 6.15 years to breaks and 6.8 years to expiries
  • Offers in excess of £7,250,000 (exclusive of VAT)
  • Net initial yield of 6.78%
  • Potential for alternative uses on the upper floors and for future development of the air-space over the rear of the ground floor retail units (subject to planning)

Overview

Hanover House comprises a Category B listed period building within Edinburgh's New Town Conservation Area. The building has been repurposed and adapted over time to provide an impressive combination of retail, leisure (bar/nightclub) and office accommodation.

Ford Swanson Image

Ford Swanson

Partner

Kyle Wright Image

Kyle Wright

Graduate Surveyor

Nick Armstrong Image

Nick Armstrong

Partner

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