Significant Mixed Use Investment Acquisition in Edinburgh

Client: LaSalle Investment Management

MMX Retail acquired the freehold interest of 121/123 Princes Street in Edinburgh. The building provided a new 30,000 sq ft flagship store for New Look over three floors, with the upper floors let to Premier Inn for its flagship 97-bedroom hotel in the city.

The Brief

On behalf of LaSalle Investment Management, MMX Retail acquired the freehold interest of 121/123 Princes Street in Edinburgh. The building provided a new 30,000 sq ft flagship store for New Look over three floors. The upper floors are let to Premier Inn for its new flagship 97-bedroom hotel in the city.

New Look agreed a 20-year lease from September 2011. Premier Inn agreed a 19.5-year lease from February 2012.

Key Stats

£34,000,000

Price

£1,987,730

Rent

5.55%

Net Initial Yield