Aviva sells HMV store on Princes Street for £9.65 mln

By A staff reporter 2009-06-25T00:00:00+01:00

Aviva Investors on behalf of CIP Property (AIPT) has sold 129/130 Princes Street in Edinburgh to Rutley Capital Partners for £9.65 mln (EUR 11.4 mln)

Aviva Investors on behalf of CIP Property (AIPT) has sold 129/130 Princes Street in Edinburgh to Rutley Capital Partners for £9.65 mln (EUR 11.4 mln)

Rutley acted on behalf of Lancashire County Council Pension Fund. Aviva was advised by King Sturge, while Knight Frank acted for Rutley.

King Sturge said this was one of the most significant retail investment deals in Scotland this year.

The 1,000 m² property occupies a prime retail site in Edinburgh city centre and is fully occupied by HMV UK on a lease which runs until 2023, at an annual rental income of £760,000.