Tue, 21 Apr 2015 | BUSINESS SALE
Property management firm Grant & Wilson has been sold off in parts to three separate property firms.
The Glasgow-based company had several different divisions, including lettings and sales. Its Edinburgh and Aberdeenshire residential letting business has been acquired for an undisclosed sum by Lomond Capital. This will add some 300 properties to Lomond Capital's portfolio.
Back in Glasgow, property agent DJ Alexander has acquired the firm's local letting business. The third entity in the acquisition of Grant & Wilson is Lomond Capital's sister company, Strathspey Capital, which has acquired Grant & Wilson Residential Factors.
All Grant & Wilson staff will be transferred to the purchasing firms at the relevant offices.
Douglas Weir, chief executive of Strathspey, commented: “The Grant & Wilson deal is key to establishing our position as one of Scotland’s major players in the property factoring market. We will be looking to meet the ongoing demand for factoring, as the property industry continues to recover, with a good quality professional service.”
He added that the company has developed a “successful growth model” based on a combination of “strong organic growth and a local acquisition”.
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The acquirer of this practice will be required to take-over the unexpired part of all on-going agreements relating to future payments for software licenses, equipment, furniture, fixtures, fittings, storage rental, PI insurance, library and any payme...
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