‘High-profile’ deals boost Edinburgh property firm

Iain Mercer

EDINBURGH-based IME Property has recorded its strongest ever quarter of lettings and sales.

The commercial property business, which was founded three years ago, put the success down to a number of “high-profile” deals.

Recent lettings concluded by IME include both units at George Court, Haddington which underwent a complete refurbishment by Wilkie Developments. German pastry chef Falko Konditormeister has taken a 10-year lease at £30,000 per annum, while Honest Ink has agreed a 5-year lease at £16,000 per annum.

In Edinburgh, 29 Dalry Road was let on behalf of Shaf Rasul’s SRA Ventures to Optimus A&L Limited at £14,000 per annum; Roots (Edinburgh) Ltd agreed a 10-year lease at £12,500 per annum for 18 William Street; while 129-131 Comely Bank Place has been let to Bridge Investments on behalf of a private landlord at £16,000 per annum.

IME said the Edinburgh sales market has also been “buoyant”, with 8-10 Dunedin Street and 120-124 Colinton Road both sold recently on behalf of private clients, raising over £1.3 million between them.

Iain Mercer, IME managing director said, “We are naturally delighted with the pace of growth  over such a short timeframe. We’ve worked hard to position ourselves as an agency which goes the extra mile, we’ve also pioneered online, digital and video marketing technology for our clients and it’s certainly reaping the benefits.”

Mercer remains optimistic for the sector but also hinted at a note of caution. “What we are beginning to see in and around Edinburgh is demand from tenants and buyers generally exceeding supply of available stock,” he explained. “That general tightening of supply in the market is good news for landlords who can offer harder terms for their properties. And while it hasn’t impacted dramatically on the local market as yet, there’s no doubt a period of political stability would be welcomed across the entire UK commercial property sector.”