Lismore Real Estate Advisors have advised Hazledene House Limited on the sale of 131–133 Princes Street, a prime mixed-use investment in Edinburgh city centre.
The property occupies a prominent position on Princes Street, Edinburgh’s highest footfall retail thoroughfare, offering panoramic views across Princes Street Gardens and Edinburgh Castle. Extending to 14,820 sq ft, the Grade B listed building comprises a newly let restaurant at ground floor to Popeyes and modern office accommodation on the upper floors, let to 10 Europe Limited, Valtech Limited, and Eden Scott Limited.
Fully let with a WAULT of 10.1 years to expiry (4.9 years to breaks), the investment provides secure and diversified income from a mix of strong national and international occupiers.
The property was under offer within one week of marketing, and sold for £7.00 million to a private investor, reflecting a net initial yield of 7.28%.