Legal firm Clyde & Co is to transfer its Simpson & Marwick Aberdeen estate agency operation to Ledingham Chalmers with the promise of a “seamless transition” for clients.
The move, which is due to take place from 4 November, will see all 12 Simpson & Marwick Aberdeen staff, including property partner David Geddie and senior associate Lynne Stewart, transfer along with all Ledingham Chalmers’ personnel to the new entity.
The business will trade under the Ledingham Chalmers Estate Agency brand as part of the full-service legal firm.
The deal is set to create one of the city’s largest estate agencies in terms of the number and value of properties sold, set against a backdrop of an improving Aberdeen property market.
Mike Cunningham, partner and head of residential property at Ledingham Chalmers, said: “This deal presents an important evolution of our firm at a pivotal moment for the North-east.
“Specifically, this area hasn’t had its troubles to seek over the past few years, but we’re now seeing an improving picture in terms of activity and investment.
“For example, the city’s bypass opened recently; the P&J Live event arena opened recently too for Offshore Europe, its first conference; and construction is underway at Aberdeen Harbour Board’s £350 million South Harbour development.”
He added: “This deal isn’t about increasing size for the sake of it, it’s about bringing together two strong practices delivering unrivalled knowledge and expertise to clients and creating a stronger, sustainable market position in a region that’s experiencing something of a renaissance.”
The practice will operate from Simpson & Marwick Aberdeen’s current Alford Place premises and Ledingham Chalmers’ headquarters in Rose Street, and will continue to be the only estate agency with a base in Bridge of Don.
The residential property division of Clyde & Co will retain and continue to use the Simpson & Marwick brand in Edinburgh and East Lothian where it has a team of 30.
Clyde & Co’s remaining Granite City office, led by partners Harry Boyle and Mark Donaldson and part of the firm’s global insurance practice, is unaffected by the move.
David Tait, managing partner for Clyde & Co Scotland, said: “We thank David Geddie and his team for their hard work over the years for Simpson & Marwick Aberdeen clients and wish them all the best for the future as they become part of Ledingham Chalmers Estate Agency.”
Once the new team joins, personnel numbers at Ledingham Chalmers, which has offices in Aberdeen, Edinburgh, Stirling and Inverness, will rise to 198 including 33 partners.
Geddie said: “I have known and respected the Ledingham Chalmers’ team for many years. We’re enthusiastic about what it means to come together and create something new.”