Takeover deal sees Scots property firm hit 50,000-home milestone

By Perry Gourley
Published 8th Nov 2021, 04:55 BST
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James Gibb's CEO Douglas Weir expects the factoring market to see significant consolidation in the years ahead.James Gibb's CEO Douglas Weir expects the factoring market to see significant consolidation in the years ahead.
James Gibb's CEO Douglas Weir expects the factoring market to see significant consolidation in the years ahead.
A Scottish property firm has acquired the residential factoring arm of a rival in a deal which takes the number of homes on its books over the 50,000 mark.

James Gibb Residential Factors has struck the deal with Aberdeen-based commercial property consultancy FG Burnett as it also eyes opportunities to expand into England amid consolidation in the sector.

The acquisition adds 3,000 properties under management to James Gibb’s portfolio and means the Edinburgh-headquartered company has tripled the number of properties it manages across Aberdeen in the past two years. It has taken on three new staff to handle the growth and has doubled its office space in the city centre.

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Douglas Weir, CEO of James Gibb, said: "We have been consolidating the factoring sector in Scotland carefully and this is another statement move as we aim to create genuine competition and differentiation in the market.

“It brings together two significant residential factoring portfolios in the North of Scotland, which can only benefit property owners. With a professional central services team assisting local operations, we are well placed to deliver superb customer service.”