£23m Property Deals Boom

Today the firm can reveal revealing that our property teams have handled deals totalling £23m as we look to help investors reappraise their property portfolios following the introduction of new tax changes.

Our Property Services Team, which was boosted by the takeover of Coulters Letting in 2019, has capitalised on its property, legal, and financial management capabilities to deliver a strong residential asset management offering to clients.

In the last 12 months we have been involved in the restructuring, selling and refinancing of multiple portfolios, totalling in excess of 300 properties worth over £23m.

Sam Paulo, Head of Lettings, is currently managing the restructure of a £12.5m portfolio of 132 properties across Edinburgh, Airdrie, Bellshill and Coatbridge.

Sam said: “We have seen increased interest from landlords and property investors requiring advice on restructuring and retrospective financial planning.

“This has been down to changes to Section 24 tax laws and expected changes to capital gains tax, meaning landlords are no longer able to claim mortgage interest or property finances as tax deductible.”

“For those who put in place good planning, there are a lot of advantages and opportunities for properties structured correctly from the start.

“Unfortunately, if portfolios weren’t correctly structured, now might be the best time to sell – the good news is that there’s an eager appetite from buyers for residential property portfolios.”

Sam added: “Being a full service firm with different strands in real estate, debt recovery, and legal, we can offer a full management and restructuring service to make sure landlords are fully utilising their portfolios and maximising their exit strategies – which can be hugely reassuring as people look to reassess their finances following the challenges posed by Covid-19.”

The firm is also overseeing The Capital Portfolio, a collection of eight properties in Edinburgh worth £1.4m. It has also overseen two further portfolios worth £1.9m and £1.4m, of 31 and 19 commercial and residential properties respectively.

John Fulton, Real Estate Partner, said: “Under one roof, we have a skilled team of financial management, accounting, lending, private client and real estate experts to help advise our clients on everything from capital gains and inheritance tax to succession planning.”

The firm has enhanced its rapid expansion with the takeover of Coulters Lettings, which added a strong letting capability to its range of property services and saw highly regarded property experts Sam Paulo and Marcus Di Rollo join the team, together with their entire staff.