Newton Property Management expands with takeover of Aberdeen business

Scottish factoring firm Newton Property Management has completed the five-figure acquisition of an Aberdeen competitor as it continues to expand its presence in the North-east.

The buy-out of Robertson & Associates includes the transfer of 400 residential properties across 12 city centre sites.

The move has increased Newton’s Aberdeen stock level by 15 per cent to more than 3,000 units across the city.

Newton said the deal was part of its commitment to invest £1 million in the north of Scotland over three years. It marks the second acquisition in the region in recent years by the factoring firm after it secured Inverness outfit Allied, Souter & Jaffrey two years ago to expand into the Highlands and Moray.

Newton Aberdeen director Ross Watt said: “We took on one of Robertson & Associates sites a few months ago and that prompted a conversation with the owner who was looking to retire.

“Our Inverness business has grown 20 per cent since we acquired it in 2017 and we now look after properties as far north as Brora and as far south as Gretna, so we are focused on continuing to expand the business across Scotland through organic growth and additional acquisitions.”

Newton sold its lettings arm last year in Aberdeen and the Central Belt as the firm opted to focus entirely on factoring management of residential and commercial properties.