Omni Centre: Popular Edinburgh leisure complex with Wetherspoons pub, Vue cinema and Nando’s put up for sale
The Omni Centre has been put up for sale for £65 million by owner Nuveen
A popular leisure complex in Edinburgh city centre has been put up for sale by its owners.
The Omni Centre, which includes a Wetherspoons pub, a 12-screen Vue cinema, a Nuffield Health centre and Gym and the five-star Glasshouse boutique hotel, is on the market for £65 million.
The Leith Street venue also includes various bars and restaurants and has a 990-bay car park in the basement.
According to the Daily Business website, the 219,727 sq ft Omni Centre currently generates an annual net income of £5.56 million, with the asking price representing an 8% net initial yield. It has an outstanding weighted average unexpired lease term certain of 20.8 years.
The selling agents for the Omni Centre are JLL and Culverwell.
In January 2017, the Omni Centre was sold for £74.8m, having previously gone for £107.35m in May 2006.