A DENTAL practice described as one of the oldest in the Scottish capital has been sold.
Specialist business property adviser Christie & Co announced the sale of Bellevue Dental Practice in Edinburgh, a three-surgery practice which offers NHS and private patient treatment, "with a strong emphasis on promoting dental health and preventive care".
Established in 1913, the agent said it is "reputed to be one of the oldest practices in the city".
The exiting owner-principals, Dr Martin and Dr Allison Rennie, who are the fourth generation of dentists operating from this site, undertook extensive renovations after taking the reins in 2000.
The agent said their vision allowed the practice to go from a single operator to a three-surgery practice.
Since then "it has continued to flourish, building a reputation as one of the best practices in the city by offering excellent dental care to an ever-expanding private patient base".
The business is in Bellevue, bordering the New Town.
"Following a recent decision by Martin and Allison to retire, the practice has been sold to a first-time buyer," the agent added.
Mr Rennie said: “After an initial meeting with Christie & Co, they were able to advise on what we should expect to receive in the current market. With 12 interested parties in one day, with another five at separate visits, very quickly we had 10 excellent offers, all exceeding our initial expectations. We sold to an individual buyer with no tie-in.”
Joel Mannix, associate director – dental at Christie & Co, who handled the sale, said: “Having had initial discussions with Martin and Allison during the pandemic, we worked together to form a marketing strategy to allow their exit from practice ownership.
"After launching the practice confidentially to the market, we received significant interest which included 20 viewings and a closing date resulting in 10 offers for the sellers to choose from. Interestingly, the vendors chose an offer that wasn’t necessarily the highest in terms of monetary value, but one that offered the best post-sale conditions.
“This outcome is typical of current market conditions in the Scottish dental market, which is another reason why it is so important to test the market rather than sell directly to a buyer. I wish Martin and Allison all the very best in their much-deserved retirement.”
Bellevue Dental Practice was sold for an undisclosed sum.
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