IME Property, run by Iain Mercer, has signalled its growth ambitions 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 over 40years experience in the commercial property market.
Mr Mercer joined IME Property, the latest vehicle of battle-hardened developer Ian McDonald, as managing director last year after the demise of the long-established property business created by his father Wallace Mercer.
Mr Mercer said: “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."
He said IME had so far this year concluded two sales worth £550,000. “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.”
At 200 Morrison Street Tiger Developments, the company behind the nearby mixed-use Haymarket development, had taken a four-year lease at £21,000.
Mr Mercer said: “We have enjoyed a strong start to 2016 in terms of both sales and lettings and we continue to witness an increase in activity ."
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here