Group becomes Scotland's biggest property factor after acquisition

The deal means the group Strathspey Capital will manage more than 86,000 properties throughout Scotland.

Strathspey Capital becomes Scotland’s biggest property factor after acquiring Speirs Gumley Getty Images

Strathspey Capital has become Scotland’s biggest property factor after acquiring the firm Speirs Gumley.

The Rutherglen-based business was bought by Strathspey for an undisclosed amount as part of efforts to consolidate the sector.

It means the number of properties managed by the group will soar to more than 86,000.

Speirs Gumley has around 32,000 units in Glasgow and Edinburgh.

The two firms will continue to operate as separate brands under the deal and will be led by chief executives Lorraine MacDonald and David Reid.

Strathspey, based in Glasgow, said the move will “improve professional standards in the industry and deliver better value to homeowners.”

The group is the parent company of James Gibb Property Management, which manages around 54,000 properties around the central belt, as well as Dundee and Aberdeen.

Strathspey chairman Stuart Pender said: “This transaction unites two of the strongest businesses and management teams in the sector.

“We believe we now have the most experienced, knowledgeable and technically capable team in Scotland, which will ensure that we can maintain our market-leading position.”

Pender said additional investment into the firm will help “retain its culture and expand its operations”.

He added: “We remain open to future acquisitions and are actively seeking further opportunities to expand both in Scotland and south of the border.”

STV News is now on WhatsApp

Get all the latest news from around the country

Follow STV News
Follow STV News on WhatsApp

Scan the QR code on your mobile device for all the latest news from around the country

WhatsApp channel QR Code
Posted in