Bumper year for Rettie & Co's development team

A string of contract wins has seen Scottish property specialist Rettie & Co's development services arm report a record year of activity.

From left: Nick Watson, John Boyle, Will Scarlett and Matthew Benson of Rettie & Co. Picture: Stewart Attwood

The team’s 20-strong staff are currently advising on land and development deals worth more than £500 million. Some £70m of deals have been contracted in the last 12 months.

Rettie said it was now looking to take on new staff next year to add to the team based across its Edinburgh and Glasgow offices to help it meet demand.

Major developments being worked on include the Edinburgh St James Centre, New Waverley, the Playfair Building at Donaldson’s and Yorkhill in Glasgow.

Matthew Benson, Rettie & Co director and head of development services, said the firm has been at the “heart of many of the biggest property development deals taking place in 2016”. He added: “Our unique understanding of the market means we are regularly involved with many of Scotland’s big-ticket developments from their inception.”

The department’s land and development team has been involved in high profile projects this year including the 650,00 sq ft mixed use development on the site of the former Queen Mother’s Hospital in Yorkhill, Glasgow and acquiring the St Leonard’s Street Homebase site in Edinburgh for student housing group Unite.

The new homes unit headed by Nick Watson has seen sales top £82m in the last 12 months with 24 active new home developments.

A research and consultancy team, headed by Dr John Boyle, has been involved in four of the largest proposed build-to-rent schemes in Scotland over the last year and is the retained residential adviser to TH Real Estate on the Edinburgh St James mixed use development.

The department’s structured finance team recently announced the completion and handover of 96 rental properties at Harbour Point, Leith, on behalf of Forth Ports.

The project, which saw more than 3,400 applications for flats were submitted, was led by Watson together with Stuart Montgomery from the group’s asset management team who will manage the portfolio on behalf of Forth Ports.

Harbour Point is the first building delivered via alternative funding structures in partnership with the National Housing Trust on the Western Harbour regeneration masterplan.

The contract took takes the total build-to-rent properties completed by Rettie on behalf of clients to 472 with a further 292 under construction. Rettie & Co now employs more than 130 staff across nine offices.

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