Property Portfolio

Distinct from its trading property Portfolio the Society owns a Portfolio of investment property which it manages to create a rental income and enhance the net asset value of the Society.

This Portfolio is split into two distinct sectors being Commercial and Residential. The Commercial Portfolio is mainly retail units and is let to other retailers ranging from major national multiples down to independent local traders. The Residential Portfolio consists of flats and is very much concentrated within Edinburgh which has thriving private sector rental market.

The Property Portfolio is enhanced where opportunities arise by investment and development, a recent example of this being the development of a new retail scheme (pre-let to Argos) on land owned by the Society in the town centre of Montrose. In addition surplus trading properties provide opportunities for expanding the Portfolio.

Joint Ventures

Like many co-ops 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. An example of this strategy is the re-development of the old Scotmid Head Office site at Fountainbridge, Edinburgh where Scotmid has formed a Joint Venture with Gladedale to create in excess of 90,000 sqft of Grade A office space due for completion in late 2007.