A Scottish agency group has announced that it has acquired a lettings business in order to move into the short-term lettings market.
Braemore Sales and Lettings has purchased Edinburgh business Click-Let, its tenth acquisition since 2010.
The deal adds 400 properties to Braemore's lettings portfolio across Edinburgh, East Lothian, West Lothian and Fife.
All of Click-Let's staff will join Braemore's team, which is based in the Scottish capital and currently 75 strong.
Braemore says 'significant consumer interest' in the short-term lets market encouraged it to make the purchase.
Ian Lawson, the firm's chief executive, notes that demand for short-term rental accommodation in Edinburgh is particularly high during key periods such as the Festival, Hogmanay and the 6 Nations.
“We saw the acquisition of Click-Let as an opportunity to invest in this trend and incorporate into our existing portfolio,” he says.
A significant proportion of Click-Let's portfolio is held within Leith, another attraction for Braemore.
“Leith, and The Shore specifically, is a thriving local economy within Edinburgh and we’ve been looking to increase our foothold in the area for some time," adds Lawson.
Stewart Pitt, Director of Click-Let, comments: “For the last 14 years we have enjoyed being part of the growing Edinburgh property market, developing a strong team and brand to serve our customers.”
“The chance to work with Braemore came at the right time. The move will be great for our staff's progression and their depth of knowledge will help maintain both happy landlords and tenants.”
Braemore is part of the Lomond Capital Property Group and currently manages 2,800 properties in Edinburgh and the surrounding areas.