Prospects for capital’s commercial property bright after string of deals

Edinburgh’s commercial property market remains in rude health, despite wider economic concerns following June’s Brexit vote, industry experts have assured.

Pointing to a raft of lettings and sales across the city in the office, retail and industrial sectors, IME Property’s managing director Iain Mercer said: “Despite the mixed messages coming from some of the bigger players in the marketplace post-brexit, we have concluded plenty of deals with several large transactions currently under offer.” 0 IME Property’s Iain Mercer has highlighted a raft of deals

In the past few weeks, the firm has let an office suite at The Stables in Portobello to advertising and marketing firm The Covey Agency. Other deals of note include leases agreed with the Legal Services Agency, Freddy Antabi Hair Salon and The Bike Smith.

Sales of three properties have also concluded recently with 57 High Street in Dalkeith, 21 Argyle Place and 40 Argyle Place in Edinburgh achieving nearly £500,000 between them.

Earlier this month, figures compiled by global research firm Costar revealed that nearly £150 million in commercial property deals in Scotland’s cities were abandoned in the wake of the Brexit vote. However, recent data from Knight Frank has suggested that Edinburgh’s office market is shrugging off uncertainty surrounding the EU vote.