House of Fraser-owned Edinburgh department store Jenners’ building has been sold to a private European investor.
It is understood that Danish billionaire Anders Povlsen, who owns fashion group Bestseller, bought its building on 47-52 Princes Street for £53m.
The site measures 179,451 sq ft and is let to House of Fraser-owned Jenners on a 35-year lease, which expires in 2040. The deal does not impact the business or the lease House of Fraser holds on the store.
The property was put on the market in May for £52m. Jenners was acquired by House of Fraser for £46.1m in 2005.