Summary - 51, HANOVER STREET EH2 2PJ
1 bed 1 bath Retail Property (high street)
**Standout Features:**
- Prime mixed-use block in Edinburgh City Centre
- Strategically located on Hanover Street between George Street and Princes Street
- Diverse tenant mix: 57% retail, 31% office, 12% leisure
- Notable tenants include Pret A Manger, Jojo Maman Bebe, and Innovate UK
- Total passing rent: £524,250 per annum
- WAULT of 6.15 years to breaks; 6.8 years to expiries
- Potential for alternative uses and air-space development (subject to planning)
- Category B listed building with attractive Victorian architecture
Hanover House presents an extraordinary opportunity to invest in a complete mixed-use property in the heart of Edinburgh's bustling city centre. Boasting a total area of 16,961 square feet and an impressive tenant roster including popular retailers and offices, this property provides a strong and diverse income stream supplemented by a total passing rent of £524,250 annually. The offering comes with an attractive net initial yield of 6.78%, ensuring robust returns for investors.
This historically significant building, nestled between iconic shopping districts, benefits from high foot traffic and has a WAULT of over six years, ensuring stability. While the property is in good condition, potential buyers should note that renovations or significant alterations may be restricted due to its listed status. Moreover, the possibility of extending or repurposing the upper floors and the air-space adds further value.
Strategic location means easy access to a plethora of amenities, making it an ideal investment for renters and businesses alike. Opportunities to acquire similar mixed-use properties in this coveted area are rare, creating a sense of urgency for those seeking a prime asset in Edinburgh’s thriving retail and commercial landscape. Don’t miss out on this exceptional investment that combines historical charm with lucrative future possibilities.
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