Dwello makes first acquisition in central belt expansion – Daily Business

Lettings and property management firm Dwello Property is expanding across the Central Belt with its first acquisition.

It has purchased the lettings business of Thomson Residential, taking headcount to 21, with further recruitment planned as the company continues to grow.

Bank of Scotland supported the acquisition with a £520,000 term loan. The finance will enable Dwello to pursue further carefully selected growth opportunities while continuing to invest in its people, systems and processes.

Dwello will continue operating from Thomson Residential’s Clarkston Road office, giving the business a stronger foothold in Glasgow’s south side while maintaining continuity for existing landlords and tenants.

Dwello openined its Byres Road office in spring last year and its Edinburgh office earlier this year and has built a portfolio of more than 1,500 homes under management.

It works with about 400 landlords and supports more than 2,000 tenants. It expects turnover to reach £2.5 million by 2028 and £4m within five years, while growing its portfolio to more than 2,000 homes under management.

Craig Syme, director at Dwello Property, said: “This acquisition provides us with a fantastic opportunity to accelerate our growth in the south side of Glasgow, and is another step forward in our ambition to be the letting agent of choice across the Central Belt.”