REDEVCO has pre-let the majority of the retail accommodation at its flagship development on Princes Street, Edinburgh to H&M who have taken a 15 year lease on a 26,000 sq ft store arranged over ground, first and second floors.
Work on the £50.0 million scheme is well underway and once complete in the first quarter of 2005, the landmark development will comprise a further 13,700 sq ft retail unit arranged on ground and lower ground floors, together with 47,500 sq ft of offices arranged over five floors benefiting from exceptional views across Princes Street Gardens to Edinburgh Castle.
REDEVCO UK Managing Director Andrew Vaughan commented: -
‘H&M are an excellent retailer with whom we already have a very strong relationship with across Europe and we are therefore delighted to have secured them for our flagship scheme so early in the development programme. We are in the process of talking to a number of interested retailers on the remaining unit and look forward to agreeing terms with a suitable party in the near future’.
