May 30, 2016
IME Property and DMB Announce Merger
Edinburgh’s newest and fastest growing independent commercial property agency, IME Property, has taken another ambitious step by joining forces with East Lothian-based DMB Property.
The deal will see DMB’s owner, David Bell (66), join IME as a consultant bringing with him over 40-years experience in the commercial property market.
IME Property Managing Director Iain Mercer believes the deal will have wide-ranging benefits: “The merger with DMB Property immediately widens the IME Property portfolio across Edinburgh and the Lothians, but also highlights our intention to continually grow the business.
“Bringing David on in a consultancy role brings vast experience to the IME brand with his strong client base and wealth of industry knowledge,” added Mercer.
As well as the DMB merger, it’s been a busy first half of the year for IME Property, which has concluded a raft of significant sales and lettings.
Sales in excess of half a million pounds have been concluded at two properties in Edinburgh. A double shop unit (previously a convenience store) at 25-28 Argyle Place sold for in excess of £300,000, while 24 Upper Gilmore Place (a former garage and store) sold for £250,000
A number of significant letting transactions have also been completed, including leasing 7-8 Melville Place, Edinburgh to luxury bathroom installer Bagno Design. It’s the London-based company’s first foray into the Capital and they have agreed a 10-year lease on the 2,000sq ft premises at £27,000 per annum.
Another notable contract was concluded at 200 Morrison Street where Tiger Developments, the developers behind the nearby mixed-use scheme known as The Haymarket, have taken a 4 year lease at £21,000 per annum.
“The DMB Property merger apart, we have enjoyed a strong start to 2016 in terms of both sales and lettings and we continue to witness an increase in activity as more and more people become aware of the IME brand and our philosophy,” concluded Mr Mercer.