HMV is set to boost its presence in Edinburgh with the opening of a flagship store on Princes Street.
The retailer has agreed terms with Abbey Life for a new 1,941 sq m (21,000 sq ft) outlet on the site of its existing, smaller shop at 129-130 Princes Street. The occupier will take a 25-year lease, with five-yearly rent reviews, at £650,000 pa. HMV will continue to trade from its St James Centre store during the redevelopment . The new shop is expected to open next spring.
Mark Hunter of Chesterton, which acted for Abbey Life, said: “This letting demonstrates the strength of Princes Street, which has shown impressive rental growth over the last two years.” Jackson Criss advised HMV.
EGi News 19/03/97
