Leading property consultancy CBRE has announced it has secured Bobbi Brown as a new tenant in a prominent unit on George Street on behalf of the landlord Royal London Property Fund, managed by Royal London Asset Management.
Global cosmetics brand Bobbi Brown, part of the Estee Lauder Group, has taken space at 37b George Street, comprising approximately 2,000 sq ft over two levels on a new ten year FRI lease at an average rental of £167,000 per annum for the first five years. The property, formerly occupied by The Kooples, benefits from a high profile position within a prestigious block on George Street.
Callum Mortimer, director in CBRE’s Retail team, said: “There is a notable lack of retail units offering well configured space for occupiers on George Street. The demand in the city centre at present is extremely strong and lack of supply is continuing to increase rental values. To secure Bobbi Brown is fantastic for Edinburgh and I’m sure it will trade very well.”
CBRE represented the landlord Royal London whilst Bobbi Brown was unrepresented.