Glasgow lettings agency looks to double up on properties and turnover

Glasgow-headquartered Cairn Estate and Letting Agency is embarking on an ambitious expansion strategy as it looks to double both its turnover and property portfolio within five years.

Last month, the firm acquired Stephen McIntyre Letting in Portobello, near Edinburgh, following its purchase of Grange Letting just prior to the onset of the first lockdown, adding significantly to its residential letting operation in its east coast office. Both companies have since been rebranded to Cairn.

The acquisitions mean that the firm now manages a portfolio of some 1,300 units.

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Cairn now employs a staff of 25 and aims to double its turnover to £3 million and portfolio to more than 2,500 units under management within the next five years through its ongoing acquisition strategy.

Cairn Estate and Letting Agency MD David Rowand: 'Lockdown led many people to re-evaluate their lifestyles.'

Managing director David Rowand said: “Lockdown led many people to re-evaluate their lifestyles and relocate from the city to the country, moving from flats to houses with gardens, and that has benefited our sector.

“Meanwhile, some letting agents are responding to the letting legislation being introduced by the Scottish and UK governments and choosing to exit the market. The most noticeable changes of late have been the emergency Covid-19 procedures which have had a major effect on eviction terms in rental properties.

“These terms are in place until March, though the Scottish Government has the authority to extend these. All landlords and agents are currently awaiting an update regarding this in the hope that this legislation will be eased to help landlords regain control over their rental properties.”

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