Acting on behalf of the Post Office, Shepherd Chartered Surveyors has secured a new lease on a 271sqm double unit within Waverley Mall shopping centre on Princes Street in Edinburgh from the asset manager Catalyst Capital LLP....
Culverwell acted on behalf of the landlord. This unit replaces the existing Post Office unit within the St James’ Shopping Centre, which is to be redeveloped.
The unit represents an improved location for the Post Office which, it is hoped, will result in reduced operational costs. It will also allow a state-of-the-art fit-out to be completed for a new Post Office.
The Post Office has agreed to a straight 10 year lease over the premises.
Niall Gunn, partner at Shepherd’s Edinburgh office, who acquired the property for the Post Office, said: “Having identified a suitable property, Catalyst Capital was keen to agree terms with the Post Office as it recognised the positive benefit of securing such an influential tenant for the shopping centre.”
Catalyst Capital is currently investing circa £4m into the centre, refurbishing the malls, creating a new Sainsbury’s and extending the food court.
On behalf of the Post Office, Steve Bates, project manager for the lease acquisition, said that he relished the opportunity to create an attractive experience for customers in Waverley Mall.”
For further information please contact Niall Gunn on 0131 225 1234.
Issued on behalf of Shepherd by Liquorice Media tel 0141 297 1699
Date: 18th September 2014