Upbeat commprop consultant Ryden reports hike in turnover

Ryden, the Scottish commercial property agency, has given a robust outlook for the year ahead after reporting strong annual growth.

Key transactions over the period included the lettings at Atlantic Quay 1 and 3 in Glasgow. Picture: Contributed

Unveiling a 19 per cent hike in turnover to £13.8 million for the 12 months to 30 April, managing partner Bill Duguid said: “The next year will be an interesting time in the UK economy with a number of political events and changes to come, but I firmly believe our business is prepared to face any challenges thanks to the consolidated growth we have been experiencing.”

The firm’s annual accounts also showed profit available to members up by about a third to £5.3m.

Ryden said the highlights of the latest financial year included significant regional growth in Glasgow, up by 25 per cent to £4.6m, while in Edinburgh turnover was up by 15 per cent to £3.5m. Operations in England saw growth of 41 per cent.

Both the transactional and non-transactional sides of the business were up 20 per cent. The investment group had a “particularly good year of growth”, the firm, which has six offices, 42 partners and 110 staff, added – delivering 16 per cent growth on income and 27 per cent on profit.

Key transactions over the period included lettings at Atlantic Quay 1 and 3 in Glasgow, the purchase of an office building off St Andrew Square, Edinburgh for conversion to a Malmaison Hotel and the sale of the Vertex building at Eurocentral to BrewDog.