- Deal marks expansion into short term lettings market
- Grows its total number of properties under management to 2,800
Braemore Sales and Lettings has completed the acquisition of Edinburgh lettings business, Click-Let. The deal secures the property firm’s move into the thriving short term lettings market and grows its existing managed portfolio across Edinburgh and Fife.
The deal, Braemore’s tenth acquisition since 2010, will add a further 400 properties to its lettings portfolio across Edinburgh, East Lothian, West Lothian, and Fife. It will also see all of Click-Let’s staff join Braemore’s existing 75 strong team in Edinburgh. Their strong knowledge and experience of the market and portfolio will behugelyvaluable and contribute to what is expected to be a smooth transition and ‘business as usual’ for landlords and tenants.
With Edinburgh’s letting market showing the fastest rental growth figures across Scotland over the past 24 months, and significant consumer interest in the short term let market particularly during Festival months, Braemore Chief Executive, Ian Lawson saw a huge opportunity to build on this continued growth in the market.
Ian said: “The popularity of short term lets is higher than ever in Edinburgh, throughout the year and during the Festival season in particular. There is huge demand during key periods like Hogmanay, and with 6 Nations Rugby at Murrayfield, so this opportunity is testament to the changing demographics of this market. We saw the acquisition of Click-Let as an opportunity to invest in this trend and incorporate into our existing portfolio.”
Another attraction for Braemore is that a significant proportion of Click-Let’s portfolio is held within Leith. Ian added: “Leith, and The Shore specifically, is a thriving local economy within Edinburgh and we’ve been looking to increase our foothold in the area for some time. We look forward to growing our portfolio in Leith, and driving value for landlords and investors as the area is developed further.”
Stewart Pitt, Director of Click-Let, said: “For the last 14 years we have enjoyed being part of the growing Edinburgh property market, developing a strong team and brand to serve our customers. The chance to work with Braemore came at the right time. The move will be great for our staff's progression and their depth of knowledge will help maintain both happy landlords and tenants.”