Leading dance activity provider, Simon Says Dance, has agreed a 10-year lease for 492 sq m (5,299 sq ft) at 32 Inglis Green Road in Edinburgh.

Property consultant Ryden secured the letting with the dance school on behalf of a private landlord.

The two storey property was previously utilised as an office by the Construction Industry Training Board (CITB) and a change of use to Class 11 (Assembly & Leisure) has been secured by Simon Says Dance.

The office space in the building is currently being reconfigured to create dance studio space and once complete Simon Says Dance Headquarters (SSDHQ) will have six multi-purpose studios. This allows Simon Says Dance to offer a range of dance and fitness classes to suit ages from nursery to adult. SSDHQ will also have studio space available to hire.

Iain Taylor, associate at letting agent Ryden, commented: “It is great to see this former office building be given a new lease of life. This is an excellent location for the dance school, given easy access and excellent car parking facilities.”

Simon Says Dance owner, Simon Hunter, said: “I am extremely excited about this new venture! For a long time now, I have wanted something permanent to operate Simon Says Dance from and when I saw this property – I knew it would be perfect for SSD’s 750+ weekly students. I am thrilled to bring into Longstone and the neighbouring areas, a multitude of existing and brand-new leisure activities at SSDHQ. We intend to support local leisure businesses by offering SSDHQ studio space for hire, since there is a lack of such professional studio space in the Edinburgh area. We cannot wait to start this new journey, which we hope will begin later in 2017.”

The heritable interest of a retail premises at 499 Lawnmarket, in the heart of Edinburgh’s Old Town on the Royal Mile has been sold to a private investor for an unverified Scottish record of £3,871 per square foot (£41,666 per square metre) by DM Hall, one of Scotland’s largest independent firms of chartered surveyors, acting on behalf of the vendors.

The 258 square feet premises, which currently operates as a newsagent, sits close by the global tourist attraction of Edinburgh Castle. Its current occupier, J&S, pays an annual rent of £18,100 on a full repairing and insuring lease due to expire in April 2034.

Margaret Mitchell of DM Hall who concluded the deal said: “Not only did we achieve a wonderful price for our client but it was positive to see competing offers around this level.”

Ross Wilson, DM Hall’s Head of Agency for the East of Scotland, said: “We believe, subject to final confirmation, that this investment sale has attracted the highest price per square foot ever paid for a commercial property in Scotland.

“With a footfall on the Royal Mile of four million plus people a year and a world heritage site like Edinburgh Castle, which has been a focal point for over one thousand years virtually next door, it is safe to say that this acquisition represents an exceptionally attractive long-term investment.

“When we were given the brief to market this rare investment opportunity, our closeness to the Edinburgh market allowed us to rapidly target prospective buyers then to enter successfully into a competitive bidding situation which ensured that we extracted full asset value for our client.”

Do you want to know how to develop a successful brand for your business?

The most valuable property your business might have is ‘Intellectual Property’ (IP). We live in global economy that is largely intangible and centres on ideas. However, ideas on their own have little value.

The successful businesses that make money are those that can turn their ideas into products and services, creating powerful IP in the process.

If you think IP doesn’t mean anything, then think about why half the value of Coca Cola is attributed to its IP. The fortunes generated by Facebook, Lego, Cadbury and Amazon are largely driven by their IP.

Many SMEs spend hours trying to develop their businesses without spending any time at all considering what is involved in creating valuable IP, and securing a good sale.

Bear in mind that raising investments or selling your company will bring into question this crucial topic. Investors and purchasers will have a very different view from what you see as they will be valuing your business based around the IP it holds.

Therefore, ignoring IP puts your revenues and business assets at risk, irrespective of the possible impact on its value.

This event will help you to better understand what is involved to secure your IP so as to maximise the potential of your business.

Why should you attend?

By attending this event, you will understand:
• What you can and cannot protect – the limits of intellectual property.
• Why trade marks matter whether or not you are aiming to create a brand.
• The 20% of actions you can take that give you 80% of the IP protection you need.
• The learning points from real case studies and implications of Brexit.
• 15% discount on Tidman Legal fixed fees when quoting “ECC 21 June”.

Who should attend?

This workshop is aimed at the owners and leaders of SMEs and start-up businesses. If you have aspirations for your business you likely have legal issues you need to know more about.

Who is presenting?

The workshop is presented by Oliver Tidman who is a regular contributor to leading national and international publications on intellectual property law. Oliver is the founder of Tidman Legal and has an extensive background in identifying, protecting, commercialising and enforcing IP. Oliver has advised hundreds of start-ups and SMEs on protecting and exploiting their valuable IP.

Tidman Legal is a leading boutique law firm specialising in intellectual property and business law for entrepreneurs, inventors, start-ups and SMEs. We help you to add value through taking care of your IP.

OK, it sounds good. How much?

This one-hour event is completely free and includes refreshments. The event is held on June 21, from 18:30 – 19:30 at Edinburgh Training and Conference Venue, 16 Saint Mary’s Street, Edinburgh EH1 1SU.

To book your place, click on the green ‘Register button on the Eventbrite page: https://www.eventbrite.co.uk/e/secure-your-business-secure-your-intellectual-property-tickets-33456379933 and click on the green ‘Register’ button.

The total value of the residential sales market in Scotland from 2007-08 to 2016-17 was just over £143.4 billion, according to a new report published today by Registers of Scotland (RoS).

The fifth annual publication of RoS’ 10-year property market report details the trends in the land and property market over the last ten years, from the pre-financial crisis period in 2007-08, through the subsequent economic downturn, to the latest trends in sales volumes and prices up to 2016-17.

RoS business development and information director Kenny Crawford said: “The Scottish property market is a significant component of the Scottish economy. In 2016-17, the total value of residential sales alone was £16.7 billion, an increase of 1.0 per cent when compared with 2015-16.

“We’ve also seen an increase in average house prices over the decade, up 7.7 per cent when comparing 2016-17 with 2007-08. Overall, house prices remained relatively stable across each year of the decade, with the exception of a more pronounced year on year increase between 2013-14 and 2014-15.

“While the 100,291 residential sales in 2016-17 remains down on the 149,145 sales recorded in the pre-financial crisis period in 2007-08, volumes in 2016-17 were the highest since 2007-08 and have been increasing year on year from the 10-year low of 70,510 in 2011-12.”

RoS’ property price statistics are compiled using data collected as part of the land registration process. This data is comprehensive, covering transactions across the whole of Scotland for all types of property sales, in residential and non-residential markets, and with actual sale prices, not just valuations. The statistics in the 10-year property market report cover values, volumes and prices in the different sectors, broken down by local authority area. For the housing market, the report provides an overview of trends in cash and mortgage-financed sales volumes, the market within Scotland’s seven cities, sales of properties within new-build developments and trends by house type.

Further key findings revealed in the report over the last 10 years include:
• new-build property sales accounting for 12 per cent of the all-Scotland sales in 2016-17, with a total of 12,014 sales
• a 36.2 per cent decrease in the number of residential properties sold for over a million pounds when comparing 2007-08 with 2016-17, although this should be seen in the context of a drop of 32.8 per cent in total sales volumes between these years
• a drop of 30.3 per cent in the number of sales being registered with a mortgage when comparing 2007-08 with 2016-17
• the proportion of residential sales being registered with a mortgage falling from 84.5% in 2007-08 to 69.0 per cent in 2016-17
• a market value of £4.1 billion for non-residential sales (includes commercial, land, agriculture and forestry sales) in 2016-17
• a 5.3 percent increase in the volume of commercial leases, from 905 in 2015-16 to 953 in 2016-17
The 10-year property market report is free to download from the property statistics section of our website.

• The Barclays UK Property Predictor reveals Glasgow’s suburbs set to increase by almost a quarter, followed by City of Edinburgh and Stirling
• Property prices across Scotland will rise by almost 6% in the next five years, bringing the average property value to almost £180,000

Glasgow’s suburbs are predicted to see the largest increase in average house prices in Scotland by 2021 according to new research released today (24 May 2017), the Barclays UK Property Predictor.

Affluent areas in Glasgow’s outskirts, East Renfrewshire and East Dunbartonshire, are set to rise by almost a quarter (23.8% / 22.5% respectively) over the next five years. Hot on its heels is City of Edinburgh (20.2%) and Scotland’s central belt hotspot, Stirling (19.1%).

Over the next five years, high employment rates, growth in private housing market levels and an increase in rates of average earnings will contribute to rising property prices across Scotland. The country is expected to see an overall average increase of almost 6% across the next five years, making it the fifth highest performing region across the UK, behind London (11.88%), East of England (9.38%) the South East (8.74%) and the Midlands (6.28%).

The Barclays UK Property Predictor provides a three-to-five year forecast of investment hotspots on the residential property market, revealing the areas across the UK where house prices and rental incomes are expected to rise. The research uses factors including rental trends, employment levels and commuter behaviour as well as current house prices to create an index of property hotspots. The research also surveyed high net worth investors from across the UK, to reveal where and why they plan to purchase property in the future.

According to the research, and despite an uncertain economic and political climate, the UK property market remains buoyant with prices in areas across the UK set to rise by an average of 6.1% by 2021, bringing the average value of a UK property to almost £300,000.

East Renfrewshire
Predicted to see the biggest property price increase in Scotland is Glaswegian suburb East Renfrewshire, the only destination in Scotland to rank within the top 20 areas of highest growth across the UK behind Westminster (31.9%), Cotsworld (31.8%) and Warwick (29.5%).

East Renfrewshire has long been considered an ideal place for aspiring young families to set up home. Up-market retailer, Whole Foods, opened its first Scottish store in Giffnock, while Newton Mearns and Clarkston are typified by excellent schools and high house prices. There is also a high proportion of highly qualified residents in East Renfrewshire, with 53% of the population educated to degree level or higher. These qualifications are linked to higher potential earnings and a related upwards pressure on housing prices.

East Dunbartonshire
Similarly, East Dunbartonshire, situated north of Glasgow, has ranked second in the Scottish regions and is expected to rise by 22.5%. Home to two of Scotland’s most well-heeled suburbs, Milngavie and Bearsden, they have some of the country’s best schools which are regularly ranked in Scotland’s top ten as well as being a sought after location for retirees.

With easy commuting distance from Glasgow, the research suggests that the once desired busy city life has been ditched for a more relaxed suburban lifestyle as parents are keen to escape the hustle and bustle of city centres to set up home in the outskirts.

City of Edinburgh
Home to five of the top ten most visited attractions in Scotland, City of Edinburgh has long been one of the most expensive places to live in Scotland. It is perhaps no surprise that that the city ranks within the Scottish top three, with prices expected to rise by a fifth (20%) by 2021.

The financial and tourism capital is also expected to experience one of the highest levels of short to medium term employment growth in Scotland over the 2017-2021 period (growth of 2.8%), and at the same time, the city is expected to see one of the highest population growth rates over the next five years at 4.5%, which will increase pressure on housing.

Edinburgh is also experiencing the highest rate of business start-ups per capita in Scotland (with nearly 88 businesses set up each year per 10,000 working age population).

Stirling
One of Scotland’s most historic cities, Stirling, is also expected to see prices rise by almost a fifth (19%) across the next five years. Abundant in rich heritage with its own castle and Wallace Monument, the traditional market town in the farmlands has become one of the country’s most desired locations.

Stirling recently secured a City Deal, thought to be worth around £500m, which focuses on the creation of a digital district, city park and regeneration of the harbour and River Forth. The project is predicted to create 3,000 new jobs and increase tourism by 25% to turn the city into a digital technology, food and drink hub.

The economic and employment growth opportunities in Scotland are pushing up house prices in many areas of the country, with Stirling being one of them. East Renfrewshire, East Dunbartonshire and Stirling all enjoy populations with high earnings, ranging from 6% to 28% higher than the UK national average.

Scottish property investment
The research from Barclays also reveals that investors in Scotland own three properties on average, bringing the average total value of a property portfolio in Scotland to £818,093. Across all UK respondents, one in 10 (11%) own property/properties in Scotland and over a third (39%) are being used for rental income. Over a third (36%) of investors in Scotland are planning to buy new property/ properties in the next three to five years.

Calum Brewster, Managing Director, Barclays, Wealth & Investments, North Region, Barclays, said:
“It’s encouraging to see that property is still viewed as an important part of the investment portfolio in Scotland with high net worth investors typically owning three properties and over a quarter planning to buy property because they believe that it offers long-term investment security.

“There is also increasing confidence among property investors in Scotland, as many are taking a long-term view when it comes to putting money into property. It’s also interesting to see from our research how investment prospects are emerging outside of the established property heartland of London and the South of England into Scotland, with economic growth and employment opportunity fuelling growth in hotspots across the UK.

“We are here to support our clients at various stages of their investment journey and we can help by offering a range of innovative and personalised mortgage solutions to meet their individual needs, whether they are a seasoned investor or a millennial looking to increase their income.”

Ryden has issued its latest detailed analysis of the Scottish Property market.

Our 80th Scottish Property Review looks at office, industrial, retail & leisure and investment property trends over the past six months, and how external factors such as weak economic expansion and ongoing political uncertainty have impacted the commercial property market.

Office property in Edinburgh has seen market demand continue at a good pace, with strong demand from Technology, Media and Telecommunications (TMT) which accounted for 26% of total take-up. In Glasgow demand has been a little more subdued at this point in the market cycle. There is better news for Aberdeen where demand is starting to recover in line with rising oil prices bringing confidence back to the city.

Industrial property demand in Scotland’s central belt, especially for units of good quality, continues strongly and the development market is now responding with a number of projects completing or on site. Despite this there is still an insufficient choice of modern premises to meet demand or to attract inward investment. In Aberdeen the industrial property market is still experiencing challenging conditions and is not yet benefiting from the oil price increase which has seen office property transactions increase.

Retail & leisure property experienced an increase in demand in 2016 but this has not been sustained as consumer expenditure has weakened. The only operators who are notably looking for expansion opportunities are coffee shop chains and budget supermarkets, while high street banks continue to dispose of branches. The sector remains focused on prime streets, malls and retail parks. Ryden’s prime retail index, covering Scotland’s top 20 shopping locations, has broadly kept pace with retail price inflation since 2013 but has stalled in 2017.

Investment property continues to be affected by political uncertainty. That said there have been some notable sales across Scotland in recent months, particularly in Edinburgh. Aberdeen has also seen investor activity begin again. Investor focus is on undoubted rental income through strong tenants, prime locations and long leases. At the smaller private investor end of the market, political uncertainty has been largely ignored and demand is strong, fuelled by low interest rates and the perceived risk of a stock market correction
.
Commercial property market outlook in summary:
• Economic growth in Scotland is forecast as moving from 1.2% to 1.4% for 2017 to 2019 (source: Fraser of Allander Institute).
• Glasgow and Edinburgh office demand is stable but high quality supply is tightening.
• Strong prime industrial demand is now triggering speculative development in key areas.
• Retail is facing multiple challenges but prime locations remain strong.
• The forecast for investment returns is 3.2% in 2017, 4.3% in 2018 and 5.8% in 2019 (source: Investment Property Forum Consensus).

The full report is available to download on Ryden’s website: http://www.ryden.co.uk/advice/knowledge/scottish-property-reviews

Edinburgh graduate joins the Cullen Property team

Edinburgh property investment and lettings specialist Cullen Property has recruited Edinburgh graduate Hannah McConnachie for its first marketing executive position.

The marketing executive position has been created due to increasing demand from investors interested in Edinburgh property, as well as the number of students looking for high quality property in Edinburgh. Recently, Cullen Property announced that 100% of its properties are now let. Hannah’s role will primarily be to help promote investment opportunities and properties for rent, and develop the Cullen Property brand.

Hannah, originally from Aberdeen, graduated from Queen Margaret University in 2015 with a BA (Hons) in Media. Since graduating, Hannah undertook internships with public relations and marketing agencies in order to further her experience.

Hannah McConnachie, Marketing Executive, says: “It can be a difficult process trying to find your first job as a graduate and I’m extremely grateful to have this opportunity with Cullen Property. I can’t wait to hit the ground running and start meeting with prospective investors and tenants at property shows and student accommodation fairs.”

Steve Coyle, Operations Director at Cullen Property, says: “We are delighted to have our first in-house marketing executive. The experience Hannah has gained through working with local marketing and public relation firms will be a huge asset to us and bring a fresh approach to our current in-house marketing activities.”

Property 2014, hosted by Shepherd and Wedderburn
takes place on 4th November at the EICC, Edinburgh and includes a stellar line up of speakers who will share their unique insights and experience with you. They will provide an account of how they themselves have weathered the changing regulatory landscape, offering practical advice on how industry professionals can face future challenges

The Role of Cities Post-Recession is the theme of this year’s conference which  takes place at the EICC on 4 November 2014.

Colin Innes, Partner at Shepherd and Wedderburn and conference chair commented:

“There are undoubtedly many opportunities in Scottish cities ripe for development in the post-recession era. I look forward to participating in this major event, sharing my own insights and perspectives and learning from our eminent speakers about the possible approaches to seizing the emerging opportunities”.

Who should attend:

• Property developers	• Occupiers
• Surveyors	• Lenders and service providers in Scotland
• Investors	• Property agents
• Asset managers	• Architects
• Consultants and funders

Property 2014 benefits from the continued support of;  the Scottish Property Federation and media sponsors Property Week as well as past sponsors including Invest in Fife, Click-let and JC Rathbone Associates Ltd ,  City of Edinburgh Council

Speakers include:

• Sir Howard Bernstein, CEO of Manchester City Council
• John Rathbone, Executive Chairman, JC Rathbone Associates Ltd
• Richard Cook, Head of Residential Development, Lend Lease
• Professor Sean Smith, Director of the Institute for Sustainable Construction and Professor of Innovation, Edinburgh Napier University
• Sue Bruce, Chief Executive, City of Edinburgh Council

For full programme and to  find out more and to register for the event, go to:

www.propertyconferencescotland.co.uk

The Co-operative Food is staging a networking event in Edinburgh on Thursday 9 October, to target new stores across Scotland as part of its ongoing acquisitions programme.

Property agents, developers and landlords are invited to meet The Co-operative Food’s property team at the event, which is being held at The Living Room on George Street at 11.30.

The Co-operative Food has plans to acquire 100 new stores during 2014, underlining its position as the leading convenience retailer in the UK.  The programme will see the business, which already operates 2,800 outlets, open stores in both high street and local community locations.  Recent store openings in Scotland include Greenock and Peterhead.

The Group’s strategy is to identify appropriate properties between 2,000sq ft and 4,000sq ft net sales area, particularly in high street and local community locations.

Acquisitions Manager Ian Mason said: “With ambitious plans for 2014, The Co-operative Food is forging ahead with its acquisitions programme to expand its estate, and we are specifically looking for new locations throughout Scotland.

“We are actively searching for new opportunities to grow the business and this is a great chance to meet and work with agents, landlords and developers to identify the right properties in the right locations and in the heart of local communities.”

The networking event will be held at:

• The Living Room, 113 – 115 George Street, Edinburgh EH2 4JN, from 11.30 to 14.00, and will include a buffet lunch

For further information, or to book a place, contact Natalie Swift at Natalie.swift@co-operative.coop

With the UK Government’s proposed pensions reforms due to allow individuals aged 55 and above to take all their pension pot as a cash lump sum from April 2015, Edinburgh lettings agency Click-let is predicting a rise in the number of Edinburgh residents considering investment in rental property and becoming a landlord for the first time.

Click-let’s Operations Director Ross MacDonald said: “People are soon going to have more freedom to choose what they want to do with their money in retirement in order to maximise their return.  One of the options open to them will be to use some or all of their pension pot to invest in property to let.  This could well provide a better return than many other forms of investment, such as shares.  The recent resurgence in house price growth may provide additional incentive.

We would advise prospective later-life landlords to seek professional advice as early as possible when considering how to invest any funds they take out of their pension pot.  They should explore what will be the most tax efficient way for them to invest in a rental property, so that they are not burdened with large tax bills in retirement.  It is unlikely to be to buy property outright with the cash lump sum from their pension pot.  For those with larger pension pots, it may be more beneficial to invest in several properties rather than one to maximise their return.  So, for example, instead of investing £250,000 in one property that nets them £900 per month rental income, it may be better to invest £125,000 each in two properties that both yield £575 per month.

As well as the potential rewards, people should think about how to minimise the possible risks as well as the hassle that may be involved.  For example, if the property lies empty for any period of time and regular rental income is halted, the impact could be disastrous for someone in retirement if appropriate insurance has not been arranged.  A joint venture with a newly-retired friend or a younger family member might be a good way to spread the risk.”

To help anyone considering becoming a landlord for the first time Click-let is hosting a free information event on 9 September.  With property, financial and insurance experts on hand, the event is designed to give budding landlords the opportunity to ask questions, help them decide if property investment is right for them and find out how to get started.  The event will take place at 6pm on 9 September at Click-let’s offices, 123 Leith Walk, Edinburgh, EH6 8NP.  To reserve a place, please call 0131 555 1704 or email ross.macdonald@click-let.com.