Distinct from its retailing activities the Society has a Portfolio of investment property which it manages and develops to create a rental income and enhance asset value.
The Portfolio is split into two sectors namely Commercial and
Residential and consists of over 400 lettable units. The Commercial
Portfolio is predominantly retail units and is let to other
retailers ranging from major national multiples such as Marks &
Spencers and Argos to independent local traders. The Residential
Portfolio consists of 240 flats and is very much concentrated
within the city of Edinburgh which has thriving private rented
sector.
Developments
The Property Portofolio is enhanced where opportunities arise by
asset management, investment and development. An example of a
recent development is the Rosewell House office building adjacent
to our corporate head office in Newbridge, where 20,000sqft of
Grade A office space has been developed on land owned by the
Society.
Surplus trading properties also provide opportunities for
expanding the Portofolio and we also redevelop existing trading
space to create additional investment units.
Joint Venture
Like many co-operatives, Scotmid is a property rich business and
where property assets are surplus to operational requirements the
business may engage with the property development sector in Joint
Ventures to maximise assets.