Scots property firms merge

CONSOLIDATION is continuing in Scotland’s commercial property market, with Cordatus Partners today expected to announce it is merging with fellow Edinburgh-based firm Kirkstone Real Estate.

The combined company – which will be known as Cordatus Real Estate – will manage properties worth more than £400 million in total.

Cordatus was launched five years ago by three former Scottish Widows fund managers – Mike Channing, Michael Cunningham and Tom Laidlaw – while Kirkstone was set up in 2006 by former Stannifer directors Paul Blyth and Gavin Munn.

The enlarged business will list General Electric Real Estate, Hatfield Philips and accountancy firm PwC among its clients, along with partners such as JP Morgan Asset Management.