Aberdeen-based Grouse Lettings has marked its move into newly refurbished West End offices with the acquisition of Duo Lettings, taking the company’s annual rent roll to just over £4million.
Grouse Lettings has relocated to recently refurbished office accommodation at 52 Carden Place, Aberdeen, as the business continues its growth with the acquisition of fellow Aberdeen-based lettings business Duo Lettings for an undisclosed sum.
The acquisition represents another significant milestone for Grouse Lettings, and means that the company now manages annual rental income of around £4 million. The move further strengthens Grouse’s position within the North East’s residential lettings market but also facilitates an extension to their market presence with the company managing properties nationally for the first time.
The purchase of the Duo Lettings portfolio comes after Grouse has already taken on the management assets of Babs Buglass Leasing and the lettings divisions of both Benefactors Property Management and PMC Property Management in the past three years.
The move to Carden Place provides Grouse Lettings with a modernised base from which to support its expanding portfolio and team, while the acquisition of Duo Lettings brings additional properties, landlords and opportunity into the Grouse business.
Ross Watt, Managing Director of Grouse Lettings, said: “This is an exciting period for Grouse Lettings. Moving into our new office at 52 Carden Place gives us a fantastic base for the next stage of our growth, while the acquisition of Duo Lettings is another important step forward for the business.
“Reaching a rent roll of around £4million is a significant achievement and reflects the continued confidence of landlords in our team and the service we provide. We’re delighted to welcome the Duo Lettings portfolio and look forward to building on the strong foundations that Jade, Stef and her team have established.”
Jade Flannigan, speaking on behalf of Duo Lettings, said: “We are delighted to have concluded this deal with Ross and the team at Grouse Lettings. When we decided to leave the lettings market and move into other industries, Grouse were the standout choice in making sure our customers would be well looked after. Having worked so hard to build the business, we are pleased to see it go into good hands.”
The acquisition forms part of Grouse Lettings’ wider growth strategy, with the company continuing to look for opportunities to expand its portfolio and strengthen its presence across the North-east and beyond.