IME Property hails '˜full throttle' surge in year-end transactions

Edinburgh's commercial property market has entered the new year on a sound footing after a pre-Christmas surge in activity, according to one of the city's fastest growing niche agencies.

IME Property managing director Iain Mercer said there was no slowdown in the local market during the festive period

IME Property has hailed an exceptional end to 2016 which saw the practice conclude deals in December worth almost £2 million.

In a transaction worth £925,000, IME acted on behalf of Beijing Banquet in acquiring The Crofters in Sighthill Court from pubs and brewing giant Greene King. It is the third such venue alongside Glenrothes and Danderhall, on the outskirts of Edinburgh, for the Chinese buffet restaurant outfit.

IME also concluded another sizeable deal by selling 19 Dublin Street, a category B-listed building, on behalf of a private client to Stone Acre Property Developments. It is expected the townhouse will be turned into high value apartments by the Edinburgh-based developer.

IME Property managing director Iain Mercer said: “While other agencies were gearing down for the festive break we were full throttle to finish the year on a high.

“There has been no sign of the local market abating over the festive period with strong interest in a number of our clients’ properties. We have already completed a number of transactions.”

Mercer said 2017 was shaping up to be “just as positive” as the past 12 months.