Coulters acquires Purdie & Co in expansion plan
Coulters, the Edinburgh-based estate agency, is acquiring the solicitor and estate agent Purdie & Co.
The deal will see four staff – including Purdie partner Struan Douglas – join Coulters’ 36-strong team. Mr Douglas and his team will work closely with Coulters’ legal partner Wilson Browne.
Following the launch of its North Berwick property hub at the end of 2021, the merger is the latest step in Coulters executive chairman Mike Fitzgerald’s aim to secure an additional 2% market share and 25% revenue growth over the next two years.
Mr Fitzgerald said: “We’ve seen a particularly strong property market in Edinburgh over the last year with lots of buoyancy as people consider moves across the city to different areas and different types of homes.”
Mr Douglas, who has been at the helm of Purdie & Co since 1998, said: “Coming together with the well-respected team at Coulters presented an unmissable opportunity in the thriving Scottish property market for Purdie & Co.”
In addition to the Purdie & Co merger, Coulters has created half dozen roles in recent months across estate agency, legal and marketing.
This year will also see a new West End head office for Coulters as the business moves from its current Edinburgh Park location, with further city locations in the works.
The team is encouraged to adopt a hybrid approach to work location, with property hubs in North Berwick and Stockbridge available as well as the ability to work from home.
Agency eyes acquisitions
Clyde Property is eyeing acquisitions of two lettings businesses in Glasgow and Edinburgh which would add about 700 rental properties to the 3,000-plus already on its books.
Managing director Gary Thomson said he is looking to conclude deals in the next three to four months.