Latest Property News from Culverwell Property

84 High Street, Musselburgh

admin — Tue, 15 May 2012 11:43:18 +0000

Acting on behalf of a private landlord, Culverwell have let 84 High Street, Musselburgh to The Cash Store based on a new 10 year FRI Lease subject to 5 yearly rent reviews at an initial rent of £22,000 per annum.

The net internal areas are as follows;

Ground Floor 898 sq ft (83.42 sq m)

For further details please contact:

Hugh Leggat
Tel: 0131 243 9617
Email: hugh@culverwell.co.uk

154 High Street, Falkirk

admin — Mon, 14 May 2012 14:46:43 +0000

Acting on behalf of a private landlord, Culverwell have let 154 High Street, Falkirk to Age Scotland based on a new 10 year FRI lease, subject to 5 yearly rent reviews at an initial rent of £20,000 per annum, rising to £22,000 per annum at year 5.

The net internal areas are as follows:

Ground Floor 1,141 sq ft (104.99 sq m)
Basement 677 sq ft ( 62.89 sq m)

For further details please contact:
Hugh Leggat
Tel: 0131 243 9617
Email: hugh@culverwell.co.uk

163 St John’s Road, Edinburgh

admin — Thu, 10 May 2012 10:33:55 +0000

Acting on behalf of a private landlord, Culverwell have agreed a lease renewal over 163 St John’s Road, Edinburgh to Lloyds TSB based on a 10 year extension, subject to a rent review at year 5 at an improved rent of £44,500 per annum.

The net internal areas are as follows:-

Ground Floor 1,688 sq ft (156.82 sq m)
First Floor (residential use) 1,285 sq ft (119.38 sq m)

For further details please contact:
Hugh Leggat
Tel: 0131 243 9617
Email: hugh@culverwell.co.uk

90-92 LOTHIAN ROAD, EDINBURGH

admin — Wed, 09 May 2012 10:38:45 +0000

Acting Jointly with Sutherland Brown on behalf of BetFred, Culverwell have sub-let 90-92 Lothian Road, Edinburgh to Yummytori on the basis of a co-terminus sub lease at the passing rent of £28,500 per annum. The lease expires in May 2022 and the property will be occupied under a restaurant use.

The net internal areas are as follows:-

Ground Floor 1,312 sq ft (121.88 sq m)

For further details please contact:

James Godfrey
Tel: 0131 243 9603
Email: james@culverwell.co.uk

45 ALMONDVALE SOUTH, THE CENTRE, LIVINGSTON

admin — Tue, 08 May 2012 10:04:10 +0000

Acting on behalf of Henley Sweets, Culverwell have acquired 45 Almondvale South, Livingston on a new 10 year lease subject to 5 yearly rent reviews at a rent of £55,000 per annum. There is a tenant only break option at year 5.

The net internal areas are as follows;

Ground Floor 1,037 sq ft (96.34 sq m)
First Floor 347 sq ft (31.59 sq m)

For further details please contact:

James Godfrey
Tel: 0131 243 9603
Email: james@culverwell.co.uk

FRENCH FLAIR ON GEORGE STREET

admin — Wed, 11 Apr 2012 16:19:30 +0000

Acting on behalf of The Royal London Property Fund, Culverwell have let 37 George Street, Edinburgh to The Kooples.

The unit extends to approximately 2,500 sq ft over ground and basement floors and The Kooples have entered into a new 10 year, full repairing and insuring lease subject to 5 yearly reviews with the rent equating to at an initial rent of £155,000 per annum.

The agreed rent equates to a Zone A rate of £180 per sq ft which is the highest rate achieved after the recent letting to Anthropologie that reflected circa £200 per sq ft Zone A.

James Godfrey, Partner of Culverwell commented:-

“This is yet another excellent letting for George Street which continues to go from strength to strength with other recent lettings being Hollister, Anthropologie and Charles Tyrwhitt. The lack of supply and strong tenant demand is driving rental growth.”

For further details please contact:

James Godfrey
0131 243 9613
james@culverwell.co.uk

VAN MILDERT CHOOSES SILVERBURN FOR SCOTTISH FIRST

admin — Mon, 26 Mar 2012 15:22:21 +0000

Van Mildert, the North West-based fashion boutique, is to open its first store in Scotland at Hammerson’s Silverburn shopping centre. The 5,337 sq ft (496 sq m) store joins a further 6,065 sq ft (564 sq m) of space that has been taken by Clarks and Fossil.
Van Mildert’s store joins brands such as Superdry, Bank, Remus Uomo and Republic. The store will open this spring. Clarks’ 4,525 sq ft (421 sq m) store will also open this spring and is adjacent to brands such as M&S and New Look. The 1,540 sq ft (143 sq m) Fossil opened on December 2 and has performed beyond expectations.
Clarks has chosen Silverburn for its latest Scottish store as it rationalises its presence north of the border. Fossil, the vintage watches, clothing and accessories brand, recently opened its Glasgow flagship store at Silverburn.
Commenting on the latest brands to join Silverburn, Martin Plocica, Hammerson Portfolio Director, said: “Van Mildert, Clarks and Fossil are significant additions to Silverburn’s existing critical mass of high street and high-end brands. Each adds to Silverburn’s appeal as the regional destination of choice and, in conjunction with the wider offer, will help to draw more people from throughout the catchment.

“Choosing Silverburn is also indicative of Hammerson’s commitment to creating an exciting offer by securing leading brands that are new to the Scottish consumer, which has also been so successfully achieved at Union Square.”

The 1,000,000 sq ft (91,100 sq m) scheme, owned by Hammerson and CPPIB and managed by Hammerson, is anchored by Marks and Spencer, Debenhams and Tesco Extra.

Culverwell and CBRE acted for Hammerson.

For further details contact:

James Godfrey
Direct Dial: 0131 243 9603
Email: james@culverwell.co.uk

37 George Street, Edinburgh

admin — Thu, 22 Mar 2012 09:28:43 +0000

Acting on behalf of Royal London, Culverwell have let 37 George Street, Edinburgh to The Kooples.

The unit extends to approximately 2,500 sq ft over ground and basement floors and The Kooples have entered into a new 10 year full repairing and insuring lease subject to 5 yearly reviews at an initial rent of £155,000 per annum.

The agreed rent reflects a net Zone A rate of £180 per sq ft which is the highest rate achieved after the recent letting to Anthropologie that reflected circa £200 per sq ft Zone A.

James Godfrey, Partner of Culverwell commented:-

For further details please contact:

James Godfrey
Tel: 0131 243 9603
Email: james@culverwell.co.uk

ANTA - 117 119 George Street, Edinburgh

admin — Mon, 30 Jan 2012 09:18:54 +0000

Acting on behalf of ANTA, Culverwell have negotiated the acquisition of a new lease at 117 119 George Street, Edinburgh from the Landlord, The Church of Scotland.

ANTA is a long established contemporary Scottish based designer retailing high quality fabrics, homewares, fashion and accessories in addition to providing an interior design and architectural service.

The new store occupies a prime location on George Street and will sit comfortably alongside other like minded retailers.

The premises extend to the following net internal areas:-

Ground Floor 3,028 sq ft
Basement 2,439 sq ft

James Godfrey, partner at Culverwell, commented “George Street continues to go from strength to strength attracting high quality UK and international retailers. It is absolutely fitting that ANTA, a Scottish based designer, has chosen George Street for their flagship store and it will sit well amongst other new retailers to the street including The White Company, Anthropologie, Charles Tyrwhitt and Hollister.”

For further details please contact:-

James Godfrey
Tel: 0131 243 9603
Email: james@culverwell.co.uk

Culverwell Prize

admin — Tue, 13 Dec 2011 13:45:28 +0000

Culverwell continue their commitment towards the furthering of excellence in education by sponsoring a prize for the top performing 3rd year student of the BSc (Hons) Estate Management course at Heriot Watt University.
James Godfrey presented this year’s prize to Greg Brydie who is now in his 4th year of the course. James also took part in a lively question and answer session with the final year Urban Studies students on the current challenges and opportunities for retail property management and development.

For further information please contact:

James Godfrey
0131 243 9603
james@culverwell.co.uk