Ryden active in Edinburgh
The 1,431 sq ft retail premises in Edinburgh at 330 Lawnmarket, formerly Castle Antiques, attracted a total of 11 offers, each above the asking rent of £65,000 per annum, says Ryden. The firm has signed up Kiltane Retail on a 25-year lease at £72,000 per year for the shop. David Conroy, retail expert at Ryden, said: “The unit occupies a highly prominent position within the heart of Edinburgh’s Old Town and only a short distance from the Castle, therefore I wasn’t surprised at the level of interest we received in the property.”
Also in Edinburgh, Ryden has secured a 15-year lease on behalf of landlord Aviva Investors for the 11,400 sq ft former nightclub premises at the Omni Centre, which Asian restaurant chain Cosmo is to turn into a new outlet. Ryden retail partner John Conroy says the addition of Cosmo reinforces the centre’s position as a top food destination in Edinburgh – other restaurants there include Filling Station, Slug & Lettuce, Frankie & Benny’s and La Tasca. John Menzies of Cushman & Wakefield, Cosmo’s retained acquisition adviser in Scotland, added: “We had been looking at opportunities in Edinburgh for some time, and the size and location of the new restaurant makes it the ideal choice for Cosmo. The focus is now on sourcing further new restaurant openings in the other principal Scottish cities this year.”
Meanwhile Ryden has also secured a 15-year lease on behalf of landlord Joint Properties for the retail premises at 25 George IV Bridge, where Patisserie Valerie is to open its third retail outlet in Edinburgh. The patisserie chain has taken the 2,146 sq ft shop at a rent of £45,000 per annum. James Godfrey at Culverwell, which acted for Patisserie Valerie, said the positive response to its other Edinburgh shops had given the business the confidence to expand further in Scotland, including Glasgow and Aberdeen.
