Record quarterly sales for commercial property firm IME
An Edinburgh commercial property business has achieved its strongest quarter of lettings and sales just after celebrating its third anniversary.
IME Property noted its involvement in various high-profile deals, saying that among recent lettings it has concluded are both units at George Court, Haddington, which underwent refurbishment by Wilkie Developments. IME said German baker Falko Konditormeister and Honest Ink have taken leases amounting to nearly £50,000 a year combined.
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It also flagged a number of transactions in Edinburgh, such as 129-131 Comely Bank Place being let to Bridge Investments on behalf of a private landlord at £16,000 a year.
Tollcross-headquartered IME Property, which was formed as a new company in 2014 with the IME name originally founded in 1989 by Ian McDonald, also said the sales market in Edinburgh has been “buoyant” for its team, with 8-10 Dunedin Street and 120-124 Colinton Road both sold recently on behalf of private clients, collectively raising more than £1.3 million.
“We are naturally delighted with the pace of growth over such a short timeframe,” IME managing director Iain Mercer said.
The firm also cited fears of an exodus from the Scottish commercial property market, with Mercer saying that in Edinburgh demand is outstripping supply. This hasn’t hit the local market “dramatically” yet but “there’s no doubt a period of political stability would be welcomed across the entire UK commercial property sector,” he stated.