Rettie & Co. is pleased to announce the acquisition of a 100-strong portfolio of residential properties in Edinburgh’s city centre from Crichton-Stuart Management. The portfolio includes a large number of HMO (house in multiple occupation) flats in prime student areas, including 3-4 bedroom flats in the Marchmont area of the capital. Crichton-Stuart Management was founded by Jane Crichton-Stuart in 1989.
“Acquiring the portfolio of Crichton-Stuart Management, one of Edinburgh’s most well-established residential property businesses, forms part of our growth strategy for the lettings side of the business.” Simon Rettie, Managing Director.
Around £1 billion of residential assets are under Rettie & Co. management. The lettings division is run by Karen Turner, Director of Lettings, who joined Rettie & Co. in 2018 following an extensive career advising both private clients and larger portfolios for corporate investors.
“The Crichton-Stuart Management portfolio is an excellent fit with the existing Rettie & Co portfolio and builds on the holistic asset management approach of the firm. Looking at Edinburgh specifically, the city reached record rental levels in 2018 so we see this as an optimum growth opportunity.” Karen Turner, Director of Lettings
Rettie & Co.’s research department forecasts a positive Scottish housing market in 2019, predicting 1.5 per cent capital growth underpinned by fundamentals including demand, demographic pressure and economic outlook. Additionally, they forecast growth of around 5 per cent in Edinburgh’s rental market this year.