One of the biggest property marketing firms in Scotland has gone into liquidation after 24 years.
The Glasgow Solicitors Property Centre, which at one stage had some 200 solicitor/agent members, has failed with the loss of nine jobs.
Administrators KPMG have blamed the loss of key clients and a ‘tightening market’ in Glasgow.
It had been bailed out with loans from the Edinburgh Solicitors Property Centre two years ago, but has now shut its doors, with the website now linking to the ESPC, which has apparently taken over many of its assets.
Blair Nimmo, joint provisional liquidator and KPMG’s global head of restructuring, said: “GSPC is a recognisable name in the west of Scotland and has been a part of the property market for more than 20 years.
“Unfortunately, and notwithstanding additional investment, the loss of key members has led to the cessation of trade and a number of redundancies.
“We will be working with the affected employees and the relevant government agencies to ensure a full range of support is available.”
A spokesperson for ESPC told EYE: “The Edinburgh and Glasgow property markets are quite separate and distinct and it is a reflection of the tightening of the Glasgow market that regrettably GSPC has had to close.
“As a fellow solicitor property portal we gave our support over the past two years and are disappointed that it did not have the outcome we all hoped for.
“We will continue to aim for continuity of service for Glasgow’s property buyers and sellers.”
Traditionally in Scotland it is solicitors that market homes, rather than agents.
EYE reported in January that the Edinburgh Solicitors Property Centre had been hit by having to include accounts for its Glasgow equivalent.
One issue seems to be that the traditional Scottish solicitors’ property centres have had to mount strategies to compete with listing portals such as Rightmove.
Comments (4)
…..and the circus goes on.
My former Rightmove Rep walks past my office as the OnTheMarket Rep….
We are but pawns in this Marketing Charade.
I’ll just get on with looking after my clients – they pay my fees.
Not that many employees at Rightmove and they don’t think Scotland exists anyway …..from memory Rightmove is just a big ZX Spectrum sitting in an empty room.
You’ll be replaced by a computer Blame Game, keep looking over your shoulder!
Websites can only display information gained form humans. . Making money from it is another story with rightmove supporting the payanyway model , which is destroying traditional estate agents fee’s.
Interesting to see rightmove long term plan… can they make as much £££ from online agents ? must be easier to get £1000 from an indepandant with 40 houses rather then charge PBricks £1000 for every 40 houses it lists…
As Rightmove continues to soar, maybe they can offer GSPC’s employees a job….
Good will all ’round?