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Hanover House 45-51 Hanover St 16,961 sq ft 100% Let Retail Property Edinburgh EH2 2PJ £7,250,000 (£427.45/sq ft) 6.78% Net Initial Yield

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INVESTMENT HIGHLIGHTS

  • Exceptionally rare opportunity to purchase an entire mixed-use block within Edinburgh City Centre.
  • Impressive tenant line-up providing a diverse mix of income and uses (57% retail, 31% office, 12% leisure).
  • Pret A Manger, Jojo Maman Bebe, Paddywax, El Barrio Latino, Mackerel Media, Mekon AIS, Lycetts and Innovate UK.
  • WAULT of 6.15 years to breaks and 6.8 years to expiries.
  • Net initial yield of 6.78%.
  • Superb location on the East side of Hanover Street between George Street and Princes Street.
  • Tenants
  • Total passing rent of £524,250 per annum.
  • Offers in excess of £7,250,000 (exclusive of VAT).
  • Potential for alternative uses on the upper floors and for future development of the air-space over the rear of the ground floor retail units (subject to planning).

EXECUTIVE SUMMARY

Hanover House comprises a Category B listed period building within Edinburgh's New Town Conservation Area. The building has been repurposed and adapted over time to provide an impressive combination of retail, leisure (bar/nightclub) and office accommodation.

PROPERTY FACTS Sale Pending

Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Shopfront Retail / Office
Property Size
16,961 sq ft
Costar Property Class
B
Year Built/Renovated
1790/1868
Price
£7,250,000
Price per sq ft
£427.45
Yield
6.78%
NOI
£491,550
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
5
Plot ratio
4.58
Total Plot Size
0.08 ac

AMENITIES

  • 24 Hour Access
  • Security System

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • sq ft OCCUPIED
  • RENT/sq ft
  • LEASE END
  • -
  • 2,747 sq ft
  • -
  • Nov 2027

El Barrio offers a Latino experience of zesty drinks, amazing music and fiesta on the dance floor every night, seven-nights-per-week!

  • Forth Communications Ltd
  • -
  • 2,090 sq ft
  • -
  • Aug 2026
  • -
  • 3,500 sq ft
  • -
  • -

Back in 1993, Laura began the JoJo business from her flat-share in London and her parent’s shed in Wales. Discover JoJo through the years – from mailing their very first catalogue to planting their first trees in the JoJo Forever Forest. At the very heart of JoJo lies a simple mission: to take pride in everything they do. They are an international baby and maternity wear retailer. They want you to love the way they run their business as much as you love and cherish their clothes and products. They are committed to caring for the environment, their teams and suppliers, while creating products that are not only beautiful, but of the highest quality so they’re built to last for the next generation. And that’s just the beginning…

  • -
  • 2,109 sq ft
  • -
  • May 2020

KTN Connects people. To speed up innovation, solve problems and find markets for new ideas. Established to foster better collaboration between science, creativity and business, KTN has specialist teams covering all sectors of the economy – from defence and aerospace to the creative industries, the built environment to biotechnology and robotics. KTN has helped thousands of businesses secure funding to drive innovation. And we support them through their business cycle to see that investment through to success.

  • Logicnow
  • -
  • -
  • -
  • -
  • Lycett, Browne-Swinburne & Douglass LTD
  • -
  • 2,110 sq ft
  • -
  • Aug 2023
  • Oliver Bonas Ltd
  • -
  • 1,683 sq ft
  • -
  • Apr 2023
  • -
  • 700 sq ft
  • -
  • -

Porter Novelli has origins that are distinctive from any other major player in public relations: from the founding vision of leaders who transformed public health and changed lives through the commercial success of social marketing to our expansion by acquiring best-in-class local operations in markets worldwide. It is in the DNA of our top talent to be pioneers in successfully challenging the convention of our industry.

  • -
  • 1,025 sq ft
  • -
  • Nov 2022

Since opening their first shop in 1986, Pret A Manger's mission has been simple. To serve freshly made food and good organic coffee, whilst also trying to do the right thing. That's why their food is handmade in their shop kitchens throughout the day and anything they don't sell, goes to charity. That's also why their coffee is 100% organic (and always will be) and their Coffee Fund is supporting the next generation of farmers. It's (partly) what they think makes Pret special.

  • -
  • 941 sq ft
  • -
  • -

Pretty Green is a fashion clothing label founded and designed by Liam Gallagher and established in 2009. There are two distinct collections: The Green Label is a focused, casual range dedicated to providing quality, everyday signature pieces. The Black Label is classic British tailoring, using fine fabric with an innovative attention to detail. All of the pieces in each collection are strictly limited edition and are designed by Liam in collaboration with the team at Pretty Green. The

TENANT INDUSTRY sq ft OCCUPIED RENT/sq ft LEASE END
- 2,747 sq ft - Nov 2027
Forth Communications Ltd - 2,090 sq ft - Aug 2026
- 3,500 sq ft - -
- 2,109 sq ft - May 2020
Logicnow - - - -
Lycett, Browne-Swinburne & Douglass LTD - 2,110 sq ft - Aug 2023
Oliver Bonas Ltd - 1,683 sq ft - Apr 2023
- 700 sq ft - -
- 1,025 sq ft - Nov 2022
- 941 sq ft - -

NEARBY MAJOR RETAILERS

Veeno
All Bar One
Black Sheep Coffee
Starbucks
Londis
Santander
HSBC
Miller & Carter
The Melting Pot
Nando's
  • Listing ID: 35955226

  • Date on Market: 22/05/2025

  • Last Updated:

  • Address: 45-51 Hanover St, Edinburgh EH2 2PJ

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