Rental market is booming

By Leah Simpson
Posted: 2009/05/15

ALTHOUGH house sales have witnessed a sharp decline in recent months, by contrast the rental sector in Scotland has been on the up and up.

So, in line with this rising interest, it comes as no surprise to learn of a new force making an impact on the Scottish letting scene.

Called the Property Bureau, it has witnessed phenomenal growth and has just opened a new branch in Hyndland, Glasgow.

Owned by three former directors of leading estate agents Clyde Property - this West End base now serves as a second branch to the head office at Kessington, Bearsden.

It was a mere seven months ago that the trio bought over the Scottish letting business of estate agents Allen and Harris.

Martin Smith, one of the directors, said: "The purchase of the Allen and Harris letting portfolio gives us an instant presence in many Central Scotland locations with inquiries from customers in Allen and Harris branches directed to us."

Already the Property Bureau has more than 500 properties on their books which are either let or managed. This portfolio is certain to expand because, as the firm points out, demand for rental property is rocketing. Director Martin Turner explained: "This is absolutely the right time to be launching an expansion of a property letting business as people explore alternatives to buying.

"There is significant demand for property to let across the West End of the city."

Fellow director Alan Burke said: "We anticipate that demand for rental properties will go on rising.

The Hyndland branch will allow us to take advantage of a strong scene in one of the most desirable areas of the city."

Information: 0141 561 5131; www.propbureau.co.uk