More than 100 properties across Scotland's Central Belt sold in £10m deal

A residential portfolio comprising dozens of rental properties across the Central Belt has changed hands in a multi-million-pound deal.

The portfolio of properties is spread across eight developments in Glasgow, Edinburgh, Paisley , Rutherglen and Hamilton with an estimated combined rental value fully let of approximately £810,000 per annum.

The 118 properties, which are spread across developments in Glasgow, Edinburgh, Paisley, Rutherglen and Hamilton, has been sold by Places for People to private clients of Tay Letting for some £10 million.

Savills director George Hepburne Scott, who acted for Places For People, said: “The fact that this portfolio attracted considerable interest from a range of parties underlines the growing strength of the private rental sector (PRS) market in Scotland.

“The market has been driven by rising urbanisation, smaller households and increasingly unaffordable house prices.”

The purchasers were represented by Tay Invest and Scarlett Land and Development. Will Scarlett of Scarlett Land and Development said: “This transaction, which started pre-Covid, demonstrates once more the resilience of the private rental sector as a relative safe-haven for investors at a time of economic uncertainty.”

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