The wellbeing of our clients, staff and their families - together with continuity of service to clients - is of paramount importance. Outlined below are the precautionary measures we have taken to help protect our clients, our team and others.
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Rettie & Co. have been appointed as property adviser to PfP Capitals £150m mid-rent fund. Our role is to source 1,000 homes suitable for mid-rent investment, providing analysis, reporting and deal structuring.
The Fund will consider and secure appropriate development opportunities for throughout Scotland.
Rettie & Co. have identified a pipeline of development opportunities which will enable the fund to meet its initial target of 1,000 homes, with a number of these already benefitting from planning consent and agreement in principle with landowners and developers. The fund made its first acquisition in March 2019, with more following in Q2 2019.
Western Harbour, Edinburgh
Our brief from the client, Forth Ports, was to help deliver a long-term rental-backed asset.
Our services included; project development on behalf of the landowner, sourcing funding streams for the construction and operational phases, 3,650 applicants for 96 properties, lease up, on-going management, and 10 year interest only funding.
Rettie & Co. oversaw the delivery of the units over 2016 and are currently managing this MMR property on behalf of Forth Ports. Harbour Point is fully occupied with a current void rate of <0.5%.
The success of this project led to us being retained to develop a further 138 units, commenced in February 2017.
Pitt Street, Glasgow
We worked with Moda Living Apache C.P. to deliver a a mix of Studios and 1-3 bedroom homes.
We conducted a review of Glasgow residential sales, lettings, student housing and serviced apartments markets, and analysed development options through site appraisals to inform on potential risk-reducing strategies.
We worked on behalf of Teague Homes. Rettie & Co lined up a £15.2m 10-year Interest Only debt package through the National Housing Trust to underwrite the construction of 145 flatted units.
The sale of the completed Investment Asset was pre-agreed in advance of construction commencing, and the project is now complete and fully let.
Edinburgh City Centre
We worked on behalf of Places for People for a site acquisition.
The project is on-site with construction well underway. Rettie & Co. maintain an on-going role assisting the developer with the arrangement and roll out of a rental re-financing package for 150 properties.
For the Wheatley Group, analysis and creation of financial models for client.
This award winning development is complete and fully let. Rettie & Co. have been retained to analyse and create financial models for 28 homes and 4 flats for mid market rent and a shared equity sale during the project appraisal stage.
"Rettie and Co.'s deep multi-layered understanding of Scotland's housing market was vital in supporting this deal. The firm's market leading position, strategic thinking and its understanding of the legislative and political context was vital in supporting such a major milestone for Moda Living and for Edinburgh's property market." - Tony Brooks
On behalf of Dunedin Canmore we created a new model to release the potential of a moth-balled site.
Rettie & Co. co-ordinated a rental guarantee to unlock finance, through collaboration between local council, government and developers, delivering the client a long-term rental-backed asset.
We were commissioned to manage a substantial BTR residential portfolio on behalf of the A H Hunter's Charitable Trust.
Our services included the provision of disposal advisory services to assist in the reallocation of the Trust's assets; managing and facilitating a successful investment asset disposal, as well as covering a high profile, sensitive portfolio, requiring careful reputational risk management.
Rettie and Co. are the Managing agent for Stewart Milne. Our role is to oversee the management of the 62 properties to ensure that we have low voids and rent arrears.
We work closely with their external maintenance firm to ensure efficient delivery of repairs and maintenance. This is one of a number of satellite portfolios that Rettie & Co manage where the homes are located in rural areas.
Our role at Rettie & Co as managing agent is to oversee the management of the 69 units ensuring that we keep rent arrears and voids to a minimum. We have worked closely over the last 4/5 years with their in house customer service team to ensure that all repairs and maintenance are actioned and completed within a tight timeframe.