Braemore has added more than 90 HMO properties to its Edinburgh branch after purchasing the student rental portfolio of city centre rival, Complete Letting (Scotland) Ltd.

This deal will also see Braemore forging another link with the vendor’s other Marchmont Road-based company, Nestival Ltd, which specialises in providing accommodation for Edinburgh’s Fringe or “Nests” as they describe them, to the entertainment industry worldwide throughout the year.

Outside the traditional student letting season, Braemore will link up with Nestival to offer its clients portfolios on a short-term basis throughout the Edinburgh Fringe to industry staff and performers.

CEO of Braemore, Andrew Seldon, said “We are one of only a handful of agencies with a team dedicated to HMO lets, providing professional guidance on purchasing, investing, converting and licensing a property.

“The addition of this prime, central Edinburgh portfolio almost doubles our HMO stock levels, and cements our reputation as the go-to HMO expert.

“It creates a strong platform on which to innovate and strengthen our customer service, as well as expand further through more acquisitions in and around the capital.

“The collaboration with Nestival, and their highly successful niche service, also adds an exciting dimension for landlords to take advantage of.”

The Fringe is the world’s largest arts festival, while in the Scottish capital, the student population is over 59,000 and is catered for by approximately 7,000 properties. That population is growing and so is demand, according to Andrew.

He added: “As lockdown restrictions begin to ease, this acquisition is a timely signal of our continued confidence in Edinburgh and its all-year-round appeal as a place to live, work, study and holiday.

“The student market in Edinburgh – as well as in St Andrew’s where we operate a sister branch – continues to expand, making HMOs a very attractive investment.”

Braemore is part of the Edinburgh-based Lomond group of residential letting and sales agencies across England and Scotland, and is the sister agency of fellow Scottish chain Stonehouse, which operates out of Aberdeen and the surrounding district.

Stonehouse also recently completed its own acquisition, that of the letting portfolio formerly managed by Burnett & Reid, thought to be the oldest legal practice in the city of Aberdeen, and one of the longest-established in the UK.

Becki Linley, co-founder and owner at Nestival Ltd, said: “With the current sale of Complete Letting to Braemore, we can now focus on our growth across the UK whilst reassuringly continuing to offer our usual service and portfolio of student accommodation to the Edinburgh arts industry without any disruption to business.

“I am excited to bring a new agent under the wing and into the nest, and also importantly offer our Nestival services to our transitioned landlords many of whom have been with Brian and I for a number of years, whilst also potentially getting to meet new ones through Braemore.”