Lettings agency expanding
Umega targets £1m turnover after second deal
An Edinburgh residential lettings agency celebrates its 10th anniversary with the completion of its second acquisition this year.
Umega has added Edinburgh City Pads to its February acquisition of help4letting, taking the total number of properties to more than 600 and increasing the number of by four to 20.
The Marchmont-based company believes this will result in an earlier than anticipated turnover of £1m by next summer.
It was set up in 2005 by entrepreneurs Andy Whitmey, 37, former surveyor and proprietor of Links Property Manager, and 36-year-old business partner Neil McInnes and will become the prominent agent in the Quartermile development.
Mr Whitmey said: “This year has been our best since we started the business ten years ago thanks to various organisations which have supported us along the way, including Business Gateway Edinburgh and Entrepreneurial Spark.
The recent acquisition was financed in part by Edinburgh-based crowd lending platform, Lending Crowd whose chief executive Stuart Lunn, said: “I’m confident Umega Lettings, which has a fantastic business model and a strong, ambitious driving force behind it, will continue to grow year-on-year and 2016 will bring even more success.”