Leading property consultancy CBRE has announced it has secured a restaurant occupier for a prominent unit on Princes Street in Edinburgh on behalf of landlord DTZ Investment Management.
Yo! Sushi has taken space at 79 Princes Street, comprising almost 2,600 sq ft on the upper ground floor on a new 15 year FRI lease. The property, formerly occupied by Clarks, benefits from a high profile position within the central block of Princes Street opposite The Mound and corners Hanover Street.
Callum Mortimer, associate director in CBRE’s Retail team in Edinburgh, commented: “There is a notable lack of casual dining restaurants on Princes Street; which is a shame given the high footfall levels, and in the evenings the leisure focus shifts elsewhere. The relatively high retail rents required at ground floor level as well as the protection of retail frontages within planning guidelines have traditionally proved to be a barrier for restaurants taking space on the street.
“A potential solution where appropriate is to let upper ground floors for restaurant use; and in this case Yo! Sushi has a Princes Street entrance with escalator, stair and lift access into its accommodation. The fit-out looks great and embraces the natural light originating from the return corner elevation.
“I know the Yo! Sushi team has been very excited about the prospect of trading from the unit since the first time they saw it and are confident about its popularity given the level of footfall and the significance of its location. This letting has brought that corner to life and enhanced the trading line-up within the parade.”
CBRE represented the landlord DTZ Investment Management whilst Yo! Sushi was unrepresented.