Coulters kicks off 2022 expansion plans with new merger
Edinburgh-based estate agents Coulters has bolstered its team through a merger with well-established solicitor and estate agent, Purdie & Co.
The deal brings together decades of knowledge and expertise in the Edinburgh property market and adds four new colleagues - including Purdie partner Struan Douglas - to Coulters’ 36-strong team.
Bringing extensive property conveyancing experience as well as an in-depth understanding of the local market, Mr Douglas and his team will work closely with Coulters’ legal partner Wilson Browne to enhance the company’s conveyancing offering to clients across Edinburgh and East Lothian.
Following the launch of its North Berwick property hub at the end of 2021, the merger is the latest step in Coulters executive chairman Mike Fitzgerald’s strategy to cement the property agent’s reputation as Edinburgh’s local experts. The ambitious expansion plan aims to secure an additional 2% market share and 25% revenue growth over the next two years.
Mike Fitzgerald said: “We’ve seen a particularly strong property market in Edinburgh over the last year with lots of buoyancy as people consider moves across the city to different areas and different types of homes. Our services are in high demand and the merger with Purdie & Co will enable us to support and grow accordingly.
“We pride ourselves on being Edinburgh’s property experts and, by bringing Struan Douglas and his team into the Coulters family, we’re welcoming another four experts into our fold – integrating local market expertise and understanding that our clients will reap the benefits of.
“2021 was an exceptional year for the Scottish housing market as buyers looked for more space to accommodate changing priorities and hybrid working patterns and were willing to pay above valuations to secure their next home. While activity levels should settle down, in general we expect to see this continue into 2022, with demand likely to outstrip supply, and good homes boasting outdoor space in desirable areas especially attracting premium prices.”
Struan Douglas, who has been at the helm of Purdie & Co since 1998, said: “Coming together with the well-respected team at Coulters presented an unmissable opportunity in the thriving Scottish property market for Purdie & Co. Clients will benefit exponentially from our collective resources, knowledge and expertise, as well as Coulters’ sterling reputation and access to the market across Edinburgh and East Lothian.”
“We’ve also seen the benefits and increased demand of a stimulated market over the last two years and coming together with Coulters gives us the ability to provide an even better service to our clients as the market continues to thrive.”
In addition to the Purdie & Co merger, Coulters has created a further half dozen new roles in recent months across estate agency, legal and marketing.
This year will also see a new west end head office for Coulters as the business moves from its current Edinburgh Park location, with further city locations in the works. The team is encouraged to adopt a hybrid approach to where they work from, with property hubs in North Berwick and Stockbridge available as well as the ability to work from home.