Penicuik’s High Street For Sale
Over half of main retail thoroughfare now on the market
The Penicuik Cuckoo has learned that a substantial section of the town’s historical High Street is now available to buy.
Fifteen properties throughout Lamb’s Pend and Bank Street along with High Street are now available to buy.
As part of a substantial portfolio of 23 properties located throughout Edinburgh and the Lothians, Shepherd Commercial have been instructed by the landlord to sell the mixed use units in Penicuik for, what is believed to be, a six figure sum.
The properties on High Street include those of the well established ‘Best Seller’ along with ‘Flowers by Lyndsey’, ‘Coco Beach’ and ‘Allan Mcdougall Solicitor’s’. Office accommodation above this parade of shops is also for sale. Mixed use units in the historical Lamb’s Pend are also included in the instruction whilst a hot food takeaway and beauty salon on Bank Street join them.
The disposal, whilst significant, only follows a trend of decreased market activity within the town centre. Last month we reported that the Peni-Deli has been placed up for sale after thirty years of trading, additionally the former bank unit at 28 High Street has been placed back on the rental market after a short time leased to a renewable energy company. The announcement that several further High Street properties are now up for sale places the ailing town centre’s main street with only 44% of properties in a stable position with a tenant and no form of ongoing disposal.
Earlier this year the Scottish Government overturned Midlothian Council’s refusal to change the use of a former butcher’s unit on High Street to allow it to operate as a Hot food takeaway. Despite reassurance that any COU would encourage business, the unit remains vacant.
Shop owners on Penicuik’s High Street now face an uncertain wait for a new owner and with some leases running out soon, the future may only get bleaker for our town centre.
What’s your view? How can this decline be reversed? Tell us below or email us at Hello@PenicuikCuckoo.co.uk.