A SCOTS property enterprise has been rebranded after it was acquired by a former worker.
In an amicable parting of the methods, long-established Glasgow property enterprise, Newton Letting, is rebranding as Rosevale Letting.
This follows the conclusion of a licensing interval which permitted former Newton worker, Riccardo Giovanacci, to amass the lettings arm of the enterprise 4 years in the past.
Rosevale Letting is at present experiencing its busiest ever quarter and manages round 700 properties on behalf of some 400 landlords with goals of a ten per cent enhance every year within the Scots property sector.
Talking at the moment, Riccardo Giovanacci stated: “It was at all times deliberate {that a} time would come when the Newton connection would come to an finish, and with the expiry of our licensing settlement come early subsequent 12 months, that point has now arrived.
“With Rosevale Letting www.rosevaleletting.co.uk now buying and selling, we’re wanting ahead to an thrilling, distinct future with a recent, skilled, and tailor-made strategy to the lettings sector.
He continued: “As a part of our re-branding train we’ve got moved to new workplaces at 4 Newton Place, Glasgow, G3 7PR the place our seven robust employees at the moment are fortunately settling in.
“We’re grateful for the assist and encouragement through the years from our former father or mother firm and are delighted to see it persevering with to thrive and prosper.”
Stephen O’Neill, chairman of Newton Property Administration, stated: “?Riccardo has accomplished sensible issues with what was at all times a fantastic lettings enterprise. Rosevale is now close to double the scale it was once we agreed to promote our lettings arm to him.
“Newton Letting, now Rosevale Letting, has been fully reworked beneath Riccardo’s first-class tutelage – fairly an achievement and nearly actually extra to return.”
Mr Giovanacci concluded: “Regardless of gloomy media protection, this can be a nice time to be a Purchase-to-Let investor, with many properties, actually within the West Finish of Glasgow, providing annual returns of round 10 per cent.
“Simply a few years in the past returns have been solely 5 to 6 per cent however the sheer scale of demand for rental properties has nearly doubled these figures.”
