SPECIALIST property firm Rettie & Co has reached £1 billion of residential assets under management in 2023.
The firm said that its development services division is planning to build on its involvement in many of the largest residential projects across the country, at a time which it said is a ‘tipping point’ for Scotland’s housing service.
New Eidyn at St James Quarter in Edinburgh, St Andrews West in Fife, Western Harbour in North Edinburgh, and Places for People (PfP)’s Mid-Market Rent fund, aimed at delivering the next phase of affordable homes for rent in Scotland, are among keystone projects for the specialist Scottish property firm in 2023.
Matthew Benson, director, Rettie & Co, said, “When you look at the legacy projects we are heavily involved in, each demonstrates long term involvement, with our team advising on every aspect of the development cycle, from appraisals and financing, through to site acquisition, sales of completed homes and investment brokerage of residential stock. These developments and projects, and ones like them, have seldom been more important at what can be considered a tipping point for Scotland’s housing sector.”
Rettie’s development services division comprises new homes, land, consultancy and research, structured finance, investment, and build to rent (BTR). The firm is currently looking to hire for a number of roles across the team.
Led by director of research John Boyle, Rettie revealed it has the largest in-house private sector residential property research team in Scotland, which it says provides a ‘unique’ understanding of the market and offers a ‘significant’ advantage to clients. Rettie’s research unit counts the Scottish Government, City of Edinburgh Council, Homes for Scotland, the British Property Federation, and a series of UK and international investors among its client base.
At the beginning of the year, Sarah Curtis joined from Strutt & Parker as director of new homes, with Rettie having sold over £100 million of new build property developments in 2022. The team is currently acting as agent on 18 new build developments across Scotland, totalling over 1,000 units and including St Andrews West, New Eidyn, and Waverley Square.
Headed by associate director, Sandy Gilmour, Rettie’s land, development, and investment unit is currently advising on the delivery of over 5,000 residential units across Scotland covering a range of use classes from build to rent through to New Homes sales.
In the growing build to rent (BTR) sector in Scotland, the firm has played a leading role working in partnership with organisations including Forth Ports and Moda Living. Gillian McLees, Rettie & Co’s director of build to rent (BTR) operations, was appointed the Scottish chair of the UK Apartment Association (UKAA) in 2022 and advises public and private sector clients nationwide.
Rettie & Co was named associate member of the year at the Homes for Scotland Awards in May, which recognised the value of its work in supporting the residential development sector.
