Agents unveil tie-up
Coulters to merge with HBJ Property
The new business will trade under the Coulters name with HBJ becoming a majority shareholder. Ten staff will transfer from HBJ Property to take total headcount to 22, including a 10-strong legal team.
Mark Coulter said his three-year-old business is on course for a turnover of £600,000 this year but needs to scale up.
“To be a strong entity you need critical mass,” he said. The merged firms will benefit from combining their relative strengths.
Coulters, based in Edinburgh, is opening six more estate agent offices and is looking at locations in East Lothian, Dundee and Newcastle.
Malcolm McPherson, senior partner at HBJ Gateley, said: “Coulters is an established and well-respected brand in the property market, regularly outperforming the market with the speed of its sales and the sale prices it achieves.
“We felt there was a strong and mutually-beneficial synergy between the business and our own property division.”