BAM Properties has completed an extensive refurbishment of 131-133 Princes Street, one of the city’s best located retail premises. The late 18th century building, which was formerly occupied by GAP, has been upgraded into a premium retail development with large open plan contemporary floorplates.
The building now offers 10,000 sq ft of sales accommodation over two levels, with the first floor featuring a stunning picture window overlooking Edinburgh Castle. Ideally situated, it is close to large, flagship retail stores such as Debenhams, House of Fraser, Zara, Next, River Island, New Look and Urban Outfitters. The refurbishment follows BAM Properties successful modernisation of 20-26 Buchanan Street in Glasgow, which is home to sportswear giant Nike, and was sold to a client of La Salle Investment Management in 2011 for £24.5m.
Dougie Peters of BAM Properties said: “One of the challenges Princes Street has always faced is that many of the buildings are not able to offer the kind of modern retail space that today’s retailers require. “This is a real gem of a building and has been beautifully restored to make the most of the traditional features while offering an irresistible modern retail space. I am sure this space will be much in demand from retailers, who are showing renewed interest in Princes Street now that the end is in sight for the tram works. Once the long awaited trams are up and running it will give a huge boost to Scotland’s capital and totally transform the retail experience.
“An average of 12 million people per year already walk along Princes Street, so there is a huge captive market for retailers not just from local people but from tourists from other parts of Scotland and across the world.”