A Dundee-based property venture is considering £200 million worth of new business opportunities after unveiling ambitious plans for “rapid expansion”.
PRS Group, which is owned by Graeme and Leanne Carling who also head up United Capital, is looking to add as many as 5,000 rental properties to a portfolio that currently numbers about 350. The business also has maintenance, management and development arms.
PRS said it has secured financial backing from banks in the UK, as well as individuals and investors overseas.
Graeme Carling, who is due to meet with potential funding partners in the US, said: “We are in full-on expansion mode and have been impressed by the businesses which have approached us, some of which we are seriously considering for purchase.
“There are many landlords out there who are being squeezed by new tax and regulatory changes in the private rental sector.
“It’s difficult right now to be renting private property without some sort of scale and investment behind you, which is where PRS Group comes in. I think that’s why we’re seeing so many people knocking on our doors.”