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Our Case Studies

Our vast experience in commercial property has made us a recognised specialist and preferred consultant to many occupiers, landlords and developers. Some recent examples of our work below:

High Street
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Topshop, Argyle Street, Glasgow

Eric Young & Co acted for Sovereign Land in negotiating an extension and regear of the Topshop unit on Argyle Street, Glasgow. The deal created a 29,000 sq ft flagship store for this key retailer.

High Street
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35 George Street & 70 Hanover Street, Edinburgh

Eric Young & Co provided letting advice to the landlord Aberdeen Standard Investments and after an extensive marketing campaign secured Mint Velvet on a new 10 year lease. Mint Velvet relocated to double their sales floor area and are now able to showcase their full range.

High Street
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Multrees Walk, Edinburgh

Eric Young & Co are joint letting agents on Multrees Walk which is Edinburgh's luxury retail destination, anchored by Louis Vuitton and Harvey Nichols. In 2020 The Walk will become one of the main thoroughfares to the new St James Quarter. In 2019 we secured Max Mara as a tenant in their only UK store outside of Bond Street, London.

Shopping Centres & Shopping Parks
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Glasgow – St Enoch

Acting on behalf of Sovereign Centros in partnership with Blackstone, we are involved with the leasing of St Enoch Centre, Glasgow. The scheme has over 20 million visitors annually and is one of the busiest shopping centres in the UK. We have been immersed in the project creating 2 new flagship stores for Topshop and JD Sports, letting the recently refurbished Food Court and letting the ongoing redevelopment of the former BHS unit involving a 9 screen Vue cinema, 8 casual dining restaurants and a lower mall MSU.

Shopping Centres & Shopping Parks
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Livingston – The Centre

We are involved in the leasing of both retail and leisure within The Centre, Livingston on behalf of our client, Hines. The Centre is one of Scotland's top retailing destinations and is now ranked in the top 20 UK Shopping Centres, with footfall increasing year on year to over 15.8m. We recently agreed an upsize of River Island, Next and H&M.

Shopping Centres & Shopping Parks
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Inverness – Eastgate Shopping Centre

Acting for Scoop Asset Management, we are involved with all aspects of leasing within the Eastgate Shopping Centre, Inverness. Not only do we advise on new lettings, but we are fully retained on all lease renewals and rent reviews within the scheme. In addition, we are advising the landlords on a new leisure development including 4 F&B units and an updated Food Hall. Recent deals include Hotel Chocolat, Joules, Fat Face, RBS and Game.

Shopping Centres & Shopping Parks
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Edinburgh – Fort Kinnaird

For over 20 years we have played a key role in the elevation of Fort Kinnaird into the UK's second largest shopping park and one of the UK's most successful. British Land, as asset managers, have continued to invest following the opening in 2015 of the 7 screen Odeon cinema and 7 restaurant units. The latest developments include bespoke units for Curry's, Starbucks and Wagamama, along with major investment on the retail frontages throughout the scheme.

Retail Parks
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Aberdeen – Kittybrewster Retail Park

Eric Young & Co has been letting agent and rent review advisor on this scheme for over 20 years. Recent asset management initiatives on behalf of Columbia Threadneedle have included lettings to Tapi and Oak Furnitureland. In addition, the redevelopment of Block 7, for Pure Gym and a drive-thru restaurant, will provide two additional uses for the Park and further reasons to visit this established and now fully let park.

Retail Parks
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Falkirk – Central Retail Park

Owned by Hammerson, Central Retail Park is the dominant shopping and leisure park in its catchment. Eric Young & Co has advised the landlord for over 10 years in respect of this asset, both in terms of an agency role and professional matters. The tenant mix has continued to improve, with recent deals to Tapi and M&S Foodhall.

Retail Parks
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Kirkcaldy – Fife Central Retail Park

Fife Central has continually improved since the start of our involvement on behalf of Hammerson in 2007. This was initially through the development and letting of Phase 2 and subsequently through asset management work including lettings to Next for a major store and M&S Simply Food on Phase 1. Our focus is now turning to the redevelopment of the former Homebase store to create much needed additional floorspace on the park. The park is now owned by Capreon who have retained us as joint agents.

Retailer Representation
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Schuh

Schuh has been a client of Eric Young & Co for almost 20 years and during that time we have helped the company expand, providing strategic advice to deliver their property strategy; undertaking acquisitions, rent reviews and disposals. Most recently we have been assisting Schuh in their expansion into retail parks, having successfully acquired stores in York, Birmingham and Teesside.

Retailer Representation
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Starbucks

Retained acquisition agents and rent review advisors for Starbucks across Scotland. Recent acquisitions include new drive-thru units in East Kilbride, Glasgow and Aberdeen. In addition we have recently acquired a portfolio of drive-thru sites across the UK from Morrisons on behalf of Starbucks.

Retailer Representation
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Therapie

Eric Young & Co is retained by Therapie for the UK in respect of acquisitions. We have recently acquired stores in Westfield Stratford, Westfield White City, Metrocentre, Meadowhall, The Glades, Edinburgh and Glasgow. We have helped Therapie form an acquisition strategy and continue to negotiate and secure more stores for them, with their current store portfolio at 32 stores throughout the UK and Ireland.

Restaurant & Leisure
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Azzurri Restaurants

Retained agents in Scotland for acquisitions for their Ask and Zizzi brands. Recent acquisitions include Shandwick Place, Edinburgh for Ask and Silverburn, Glasgow for Zizzi, with more openings in the pipeline.

Restaurant & Leisure
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Burger King

Retained acquisition agents in Scotland to acquire both High Street and drive-thru opportunities. Recent openings include Edinburgh Princes Street with a healthy pipeline secured for multiple locations.

Restaurant & Leisure
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Quartermile, Edinburgh

Sole letting agents in the award-winning mixed use development for the latest leisure/retail phase, which includes lettings to Nanyang,
The Apothecary, Sšderberg and Caff Nero. A pod-hotel to follow mid 2019 and there will be two further high profile units to be created fronting Middle Meadow Walk in 2021.

Restaurant & Leisure
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Pizza Express Restaurants

Retained advisors for Pizza Express in Scotland since 2005, securing a number of significant acquisitions including Union Square, Aberdeen; Fort Kinnaird, Edinburgh; Silverburn, Glasgow and Byres Road, Glasgow. Most recent opening in Gretna Gateway Village.

Business Space
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Edinburgh, The Stones, South Gyle

We were retained by Napier University to let/sell 105,000 sq ft over 3 buildings at South Gyle Business Park, Edinburgh and we secured a letting of 23,500 sq ft to Instant Offices, then subsequently sold all 3 buildings to CEG. Two of the buildings were sold with vacant possession and CEG have retained us as joint letting agents on the remaining 75,000 sq ft which is currently being refurbished to provide Grade A office accommodation.

Business Space
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40 Torphichen Street, Edinburgh

Our reputation for advising growing tech companies continues, having recently advised Clearwater Analytics, ZoneFox and Cognitive Geology on the acquisition of 15,500 sq ft at the newly refurbished 40 Torphichen Street.

Business Space
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50 Lothian Road, Edinburgh

We have provided property advice to Burness Paull for many years, most recently acquiring a lease for an additional 16,800 sq ft and
re-gearing existing leases on a further 26,700 sq ft at 50 Lothian Road, in the heart of EdinburghÔs Exchange district.

Business Space
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2 Globeside, Marlow

We advised Kyowa Kirin in their lease acquisition of 22,000 sq ft of Grade A offices in Marlow which followed our advice on their expansion and lease re-gear in Galashiels, totalling 35,000 sq ft.

Investment
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Tanfield, Edinburgh

In April 2015, acting on behalf of Rockspring UK Value 2, Eric Young & Co negotiated the purchase of Tanfield, an 80% occupied, multi-let, 200,000 sq ft office, for £56m. Over the next 3 years, the common parts were refurbished, the remaining space let up and rentals increased. In November 2018, we advised Rockspring on the investment sale, off market, to Greenridge Migdal for £65.5m, producing a significant return after all costs.

Investment
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B&Q Warehouse, Darnley, Glasgow

From 2008, Eric Young & Co monitored and updated British Land plc on the potential sale of this B&Q Warehouse. In summer 2018 we advised on the investment disposal for £29.1m which reflected a premium to British LandÔs book value. The timing of the sale chimed with British LandÔs disposal strategy and heralded a profitable exit before the shortening lease term and the possible over renting began to have a negative impact on the assetÔs value.

Investment
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Virgin Active Gym, Finnieston, Glasgow

On behalf of CBRE Global Investors, we introduced and advised on the £9.55m (7.4% net initial yield) acquisition. The fully fitted gym is let to Virgin for a further 10 years with a fixed uplift in 5 yearsÔ time. The prominent site has strong underlying residential value in the medium to long term.

Development
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Tesco

Almost 4 million sq ft have been acquired for Tesco, including 46 Superstores and Extras, 30 Express stores and a distribution centre. An asset management and surplus property disposal programme is currently progressing.

Development
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Tweedbank, Galashiels

Providing development and disposal advice to Newland Assets in relation to their Borders Gateway site at Tweedbank. One final plot remains after conditional deals have been agreed with BP/M&S, Premier Inn and Costa drive-thru.

Development
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Shawfair Park

Eric Young & Co, jointly with JLL, are marketing plots for office, retail, leisure and industrial uses on behalf of Buccleuch Developments for new build lease opportunities, turnkey sales or serviced site disposals.

Professional Lease Advisory
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Gap, Buchanan Street, Glasgow

Eric Young & Co acted on behalf of Gap in respect of the rent review of their premises in Buchanan Street, Glasgow effective from December 2017 at a prevailing rent of £700,000 pa. The rent review was agreed at £710,000 pa on the condition that the tenantÔs break option, effective from December 2018, was waived. In turn the lease was extended by 5 years to 2027 with an additional break option negotiated for 2022 and a reduction in the penalty provisions in the event of a tenant break. This demonstrates that rent reviews can also be an opportunity to improve the tenantÔs terms of occupation.

Rating Consultancy
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Almondvale West Retail Park, Livingston

Acting on behalf of Hines UK, we agreed the deletion of Units 1 and 3 Almondvale West Retail Park from the rating list. We also agreed the reduction in value of the remainder of Almondvale West Retail Park which now has rates liabilities which are based on rate £ per sq m 24% lower than the adjacent competing Almondvale Retail Park.

Rating Consultancy
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Buchanan Galleries, Glasgow

As advisor to Land Securities, during pre-revaluation discussions with the Assessor, we agreed the majority of the 2017 retail rateable values at Buchanan Galleries in Glasgow, resulting in a 41% reduction in liabilities relative to the previous levels on the upper floor and a 27% reduction in liabilities on the prime mall.

Rating Consultancy
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St Enoch Centre, Glasgow

As advisors to the landlords, Sovereign Centros, we have agreed deletion from the rating list of the former BHS and adjacent shop units forming part of the East End redevelopment of St Enoch Centre. We have also agreed the 2017 rates revaluation appeals in relation to the rateable entries within the Centre with the general outcome that rates liabilities now sit 35% lower than those 10 years previously. In a rates context, St Enoch Centre now offers some of the best value for money in Glasgow city centre.