Braemore, the Edinburgh-based property firm, has sealed a deal to acquire Click-Let, pushing the business into the buoyant short-term lettings market.
The acquisition, for an undisclosed sum, is Braemore’s tenth bolt-on deal since 2010 and will add 400 properties to its lettings portfolio across Edinburgh, East Lothian, West Lothian, and Fife. Click-Let’s staff will join Braemore’s existing 75-strong team in the capital.
Braemore chief executive Ian Lawson pointed to strong consumer interest in the short-term letting market, particularly during the Edinburgh Festival season, and said he saw a “huge opportunity” to expand the business further.
“The popularity of short-term lets is higher than ever in Edinburgh, throughout the year and during the Festival season in particular,” he said. “There is huge demand during key periods like Hogmanay and with Six 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.”
Stewart Pitt, director of Click-Let, said: “For the past 14 years we have enjoyed being part of the growing Edinburgh property market, developing a strong team and brand. The chance to work with Braemore came at the right time.”