Agency acquires lettings portfolio from liquidated competitor

Glasgow agency Rosevale Letting has significantly increased its portfolio of managed properties after acquiring letting properties from a competitor, Ross Sales & Lettings, which went into liquidation last month.

Riccardo Giovanacci, managing director of Rosevale Letting, says: “When the opportunity came up to acquire the letting rights to a number of the properties from the liquidator, I felt it was the smart move to reinvest some of our profits in continuing to grow our portfolio.

“Our business is already strong in Glasgow and the properties that are moving over to us will give us increased presence throughout the city.

“My priority now is to reassure our new landlord clients that we will ensure they receive a high-quality service and that their investments are in safe hands”.

Giovanacci says that his business is continuing to see high demand and surges in enquiries as soon as properties are put on the market - a sign of the continuing excess of demand over supply.

“We have had an excellent start to the year and believe that is due to a combination of external market factors and also our commitment to a service-led approach. We constantly invest in staff and training to provide a better service to our clients. As a result, we have seen more landlords and tenants recommending our services” he comments.

“Landlords know the buck stops with me and like dealing with someone completely invested and hands-on. We want to continue improving on what we do and to continue to re-invest in growing the portfolio so that we can achieve our ambition to become one of Glasgow’s, and Scotland’s, larger letting agents”.

Giovanacci formed the business after acquiring the lettings arm of property factoring specialist Newton Property Management five years ago.