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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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Inditex – 71/77 Buchanan Street, Glasgow

Advised Inditex on various options in Glasgow city centre and secured a new lease direct with the landlords of the unit at 71-77 Buchanan Street to take their first Massimo Dutti store in Scotland, planned over three levels extending in total to 12,100 sq ft.

High Street
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Topshop, Argyle Street, Glasgow

Eric Young & Co acted for Sovereign Centros 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. We are now advising on a major redevelopment of a large prime parade on Argyle Street for the same client.

High Street
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Burberry – Multrees Walk, Edinburgh

Eric Young & Co undertook an extensive search and identified a number of opportunities in Edinburgh city centre for Burberry’s first Scottish store. We negotiated terms on their behalf to acquire a double unit within Multrees Walk, extending to circa 5,500 sq ft. We continue to monitor other potential opportunities for Burberry in Scotland for an additional store.

High Street
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Hunter Fund Management – 29/31 Frederick Street, Edinburgh

Advised Hunter Properties Fund Management on the viability of purchasing the feuhold interest in properties at 29/31 Frederick Street, securing a surrender from the existing tenant, City Centre Restaurant t/a Chiquito’s and the prospects of re-letting a larger amalgamated unit. We subsequently agreed terms with Miller & Carter to take a new lease over an 8,464 sq ft unit.

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 its most successful. British Land as asset managers have continued to invest and the latest phase which opened in early 2015 includes a 7-screen Odeon cinema and 7 restaurant units alongside Primark which opened in the same year. Major asset management initiatives are ongoing, including the opening of a flagship Currys PC World store on Phase 1 along with a full refurbishment of Phase 2 frontages. Other recent lettings include Schuh, JD Sports, Office, Starbucks, Swarovski and Pure Gym.

Shopping Centres & Shopping Parks
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Aberdeen – Bon Accord & St Nicholas Shopping Centres

Eric Young & Co acted for Land Securities on the formation of their 50:50 joint venture with British Land in 2002. Our subsequent leasing role was extended to include provision of development consultancy advice which included the development of a major 54,000 sq ft store for Next. We continue to provide advice to current owner Capreon.

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, 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. In 2016/17 we advised on the redevelopment of the former Homebase store which was successfully pre-let in its entirety to Oak Furnitureland, Wren, DW Sports and Sofology. A Greggs and Costa pod was added as part of the development.

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 TK Maxx, Dunelm, Hobbycraft, Nando’s and Costa.

Retail Parks
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Aberdeen – Kittybrewster Retail Park

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

Retailer Representation
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Starbucks

Eric Young & Co are Starbucks’ retained agency and rent review advisors in Scotland. For almost 10 years we have helped formulate their acquisition strategy and mitigate their occupancy costs at both review and lease renewal. More recently we have helped to identify strategic locations for their new drive-thru concept.

Retailer Representation
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B&Q

Eric Young & Co is now one of a panel of four agency practices instructed by B&Q to act nationwide in respect of acquisitions, disposals and rightsizing. This extends our relationship with the UK’s largest DIY retailer to over 25 years. In addition, we also advise B&Q throughout the UK and Ireland on professional matters, including rent reviews, lease renewals and regears.

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.

Restaurant & Leisure
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Pizza Express Restaurants

We have been retained to acquire units on behalf of Pizza Express since 2006 to help them grow into the market leader in their field. We have helped increase their presence within Edinburgh, Glasgow and Aberdeen as well as Stirling and East Kilbride. In recent years we have achieved some notable off market acquisitions in Edinburgh’s Morningside and Glasgow’s Byres Road, where there is a scarcity of units and were also involved in the opening of a new unit at Gretna Gateway Outlet Village.

Restaurant & Leisure
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Quartermile, Edinburgh

We have been instrumental in helping to turn award winning Quartermile into one of Edinburgh’s premier mixed use developments. Quartermile now plays host to a number of retail and leisure names including Söderberg, Nanyang Restaurants, No. 8 Lister Square, Starbucks and Sainsbury’s. Our focus has now turned to the next phase of this exciting development with pre-lets in place to Veeno and Caffè Nero.

Restaurant & Leisure
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Azzurri Restaurants

We are fully retained in Scotland to acquire new restaurant units on behalf of the Azzurri Group for Zizzi and Ask, brands we have been actively acquiring for north of the border since 2006. Recent openings include Ask in the heart of Edinburgh’s West End and Zizzi in Silverburn.

Restaurant & Leisure
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Byron Hamburgers

The high end Byron chain started to grow their brand outwith London in 2013 and during 2014/early 2015 turned their attention to Scotland. We are fully retained to acquire units on their behalf and, in a very competitive market, secured three high profile sites in Edinburgh (Royal Mile/North Bridge), Glasgow (West George Street) and Aberdeen (Union Square). We have subsequently been involved in securing a second unit in Edinburgh (Lothian Road – pictured) off market and there is a further pipeline we are working on.

Business Space
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Tanfield, Edinburgh

Our investment team acquired an office building at 1 Tanfield for Rockspring PIM’s UK Value 2 Fund for £56m reflecting 6.5%. Tanfield comprises 191,000 sq ft and is 80% let to tenants primarily from the TMT sector including Dell, Trainline.com, Aecom and FNZ.

Business Space
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Mainpoint, Edinburgh

When we were appointed there was 23,000 sq ft available in 3 different suites and within 18 months we secured 3 different tenants for each suite. In addition, an existing tenant also left the building however another new tenant was quickly secured for this 4,500 sq ft suite. Eric Young & Co were instrumental in securing the tenants for the building and for the first time since the building was built in 2008 it is now 100% let.

Business Space
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People’s Postcode Lottery

We have acted for People’s Postcode Lottery since 2008 when we acquired their first office in Scotland. Since then we have provided them with ongoing property advice, including the acquisition of several different offices in Edinburgh, while they have grown at a rapid pace. More recently we represented them in their search and acquisition of their new Edinburgh headquarters at 28 Charlotte Square, extending to 33,200 sq ft.

Business Space
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Rockstar North

We have advised Rockstar North on property since 2001 and most recently we represented them in their search and acquisition of their new Edinburgh office at 108 Holyrood Road, the former headquarters of The Scotsman newspaper. The 75,000 sq ft landmark building was acquired off market involving a surrender of The Scotsman’s lease and a new lease to Rockstar who took up occupation in June 2015, following a comprehensive refurbishment.

Business Space
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FanDuel, Edinburgh

During 2015, we advised FanDuel on their pre-let of the top three floors of Quartermile 4 totalling 59,000 sq ft. Due to a change in their business plans we were then asked to dispose of the accommodation which we successfully did, prior to completion of the building in 2016, to Cirrus Logic and F&C Asset Management. We simultaneously extended the lease on FanDuel’s existing Edinburgh office at Quartermile One for a further 5 years. FanDuel are one of Scotland’s two Unicorn companies and these recent deals means we have transacted over 170,000 sq ft of office accommodation within the Quartermile development for clients including Investec and Skyscanner, Scotland’s other Unicorn.

Business Space
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155 St Vincent Street, Glasgow

We have advised Skyscanner on their property requirements since 2010 acquiring 50,000 sq ft for their worldwide headquarters at Quartermile in Edinburgh and a further 22,500 sq ft at 155 St Vincent Street in Glasgow.

Investment
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Citypoint, Edinburgh

On behalf of Rockspring Property Investment Managers, Eric Young & Co advised on the sale of Citypoint, Haymarket to CBRE Global Investors for £14.5m, 5.76% net initial yield. The 42,000 sq ft multi-let office, which sits in the heart of the rejuvenated Haymarket transport interchange area, was sold after our Business Space team secured several new lettings in the building to bring it to 100% occupancy. The sale was successfully completed after a targeted, off-market, sales campaign.

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 years’ time. The prominent site has strong underlying residential value in the medium to long term.

Investment
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Springfield Retail Park, Elgin

Acting on behalf of British Land we sold Springfield Retail Park to Credit Suisse for £22.5m reflecting 6.45%. The Park has an open non-food consent and is let to inter alia, Boots, Next, Brantano, New Look, Pets at Home, Currys and Sports Direct.
Acting for the new owner we have recently let space to JD Sports and Tapi and rightsized B&M Bargains.

Development
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Winchburgh Masterplan

Advised Winchburgh Developments Limited from conception to delivery in relation to the retail and leisure developments of the Winchburgh Masterplan. We secured the anchor tenant of Sainsbury’s and four complementary occupiers within Phase 1 and have recently released the marketing brochure for Phase 2.

Development
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Linwood Town Centre Regeneration

From acquisition of an obsolete 1960’s shopping centre to a modern replacement town centre, our team provided strategic development and market advice on the 150,000 sq ft scheme. New uses include a superstore, retail warehousing, unit shops, offices, community facilities, library and new civic space.

Development
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Mactaggart & Mickel, Dalkeith

Providing development and letting advice to Mactaggart & Mickel on various projects including a neighbourhood retail scheme at Thornybank, Dalkeith anchored by a new Sainsbury’s Local. Our Investment team subsequently sold the asset to a private investor.

Development
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Tesco

Around 2 million sq ft of new retail floorspace and a new 1 million sq ft distribution depot has been acquired for Tesco. An asset management and surplus property disposal programme is currently progressing.

Professional Lease Advisory
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Units 4 & 5, 225-249 Buchanan Street, Glasgow – Topshop/Topman

We were instructed by Arcadia to act on the tenant’s behalf in connection with the rent review of their store at the top end of Buchanan Street.

There were a number of complex issues in terms of the relativities of pitch to ascertain the relevance of neighbouring evidence from Buchanan Quarter. We commissioned an independent pedestrian flow count bespoke to the property and the key comparables in order to ascertain pitch differentials over both weekdays and weekends.

This data provided clear evidence there was a significant pitch deterioration in the block beyond Buchanan Quarter.

The rent review was determined by Arbitration under the Arbitration Scotland Act 2010. In addition to the pedestrian flow survey, Expert Witness evidence was led by Andrew Bain of Eric Young & Co. The outcome of the review was favourable for the tenants, a significant reduction in the landlord’s best offer, well below the landlord’s Calderbank offer, which resulted in all costs being awarded in favour of our clients.  

Rating Consultancy
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Rockstar North, Edinburgh

Following Rockstar’s acquisition of the former Scotsman Building in Edinburgh, Eric Young & Co successfully appealed against the Rateable Value of £1.485m and secured the deletion of the bulk of the rates liability during the period of the extensive refit.

Rating Consultancy
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St Enoch Centre, Glasgow

Eric Young & Co were appointed to advise on the 2010 Rates Revaluation. We achieved a £1.7m reduction in the RVs of the Centre, with the reduced occupational costs immediately enabling our agents to progress new lettings and renewals.