New Ann Summers store open on Princes Street

Ann Summers Princes St Edinburgh

Ann Summers has upsized and relocated to a new retail outlet at 87 Princes Street.

The retail store has taken approximately 3,500 sq ft over two levels on a new ten year FRI lease.

The property, formerly occupied by Footlocker, benefits from a high profile position within the central block on Princes Street opposite the tram stop bounded by Frederick Street and Hanover Street.

Callum Mortimer, director in CBRE’s Retail team, commented: “The demand from occupiers for small to medium sized units on Princes Street at present is incredible. Competition for space alongside a lack of availability is resulting in the prime rental tone on Princes Street dramatically increasing.

“Landlords are currently able to negotiate advantageous lease terms given the competition for space, which includes relatively low rent free periods and in most cases straight ten year leases. Occupier demand for the street is predominantly originating from existing occupiers both up and downsizing, new entrants to Edinburgh and relocations from St James Centre.

“Given the lack of security of tenure in Scotland, in prime locations existing occupiers who want to retain occupation require to agree a lease renewal some time before expiry otherwise they risk either losing their unit or else having to pay a rental increase.”

CBRE represented the landlord CBRE Global Investors whilst Ann Summers was represented by Cushman and Wakefield.