CAIRN Group has returned to the acquisition trail with a brace of deals, including the purchase of Clyde Property’s factoring arm.
Glasgow-based Cairn has made the purchase of Clyde PM, and the Scottish arm of Glasgow-based Nationspaces Developments, through Factors Direct, the property factoring company it launched earlier this year. Nationspaces operates across all aspects of property management.
The deals come hard on the heels of Cairn’s acquisition of Rannoch Property, the Glasgow-based estate agency, and as the company targets doubling its turnover to £3 million and property portfolio to 2,500 units under management within five years.
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The latest acquisitions mean Cairn now manages a portfolio of 1,400 units across Glasgow and Edinburgh; 220 units are now under the management of Factors Direct.
David Rowand, managing director of Cairn Group, said: “We’re delighted to secure these two acquisitions which, from a standing start earlier this year, put Factors Direct firmly on the map for dedicated residential property management services throughout Scotland’s central belt.
“Homeowners in the west of Scotland will be very familiar with Clyde Property, so it is something of a coup to secure its property management division, while Nationspaces Developments is a long-established firm which is seeking to refocus its operations south of the border, presenting us with the opportunity to snap up its Scottish arm.”
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Gemma Waters, managing director of Factors Direct, added: “Our goal is to have a positive impact on the central Scotland property factoring market and give owners direct input into the management of their building. These deals will enable us to do just that.
“Although Factors Direct was only established this year, our management team has over two decades of experience in owning, operating, and managing residential properties across the central belt and is well-versed in the challenges and opportunities unique to Scotland’s real estate sector.
“It is our extensive experience in property renting and selling that unveiled an urgent need for an enhanced factoring experience for our clients, leading to the inception of Factors Direct.”
In recent years, Cairn has acquired JJM Properties in Glasgow, Grange Letting in Edinburgh, and Stephen McIntyre Letting in Portobello, all of which have since been rebranded to Cairn. It now employs a staff of 25.
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