Asset management firm moves north of the border
Sequence Corporate Lettings, part of Connells, has expanded its operations into Scotland due to increasing demand for its services by lenders, insolvency practitioners, LPA receivers and institutional investors.
Sequence said it has received growing demand for the services provided by its corporate lettings division as organisations have become forced to manage increasingly larger property portfolios.
Rupert Atkinson, director for Sequence Corporate Lettings, said: “The issue of managing large volumes of repossessed and distressed property stock is a major concern for these companies, many of whom look to us to provide a clear idea of what their portfolio looks like and then take responsibility for letting and managing the properties effectively.
“Now more than ever, corporate organisations and institutions need to look at their property management processes and ensure best practice.
“Having an initial understanding of the value of their asset is crucial, as well as validating any costs to protect themselves against future litigation from previous owners and investors.”
Meanwhile, Sequence is not the only firm to detect trouble in the Scottish housing market – trouble which can be turned to advantage.
Lettings firm Lomond Capital says that the number of banks trying to offload distressed property is increasing. See next story.