Bowman Rebecchi has purchased rival letting agency Castle Estates in a six-figure deal, making it one of the largest independent letting agencies in Scotland.

The Gourock-based firm acquired the Greenock agent, which manages nearly 350 properties across Glasgow, Renfrewshire and Ayrshire as well as in its local market, and will take on its four staff. This deal marks the latest development in the ongoing consolidation in the region as the tenant fees ban and Covid, coupled with the increasing effort to make decent profits, have caused many smaller letting agents to sell up.

Castle Estates was set up 20 years ago by owner Neil Woodhead, who is retiring. Woodhead told The Herald that he’d had several offers for the business but chose Bowman Rebecchi as it was the best fit for Castle Estates’ customers, staff and the future of the organisation.

Two decades

He added: “I look forward to watching the business development under the stewardship of Bowman Rebecchi Letting and would like to thank our loyal clients for their support over the past two decades.”

Bowman Rebecchi was founded by Andrew Bowman and Marco Rebecchi (pictured above) in February 2020, who then formed a joint venture with Glasgow-based letting agency Newton in December to boost both companies’ position in the west coast residential market.

Rebecchi added: “Across our group of businesses, we now manage 1,100 properties, both commercial and residential, and this acquisition makes us one of the largest independent letting agencies in Scotland. We look forward to further growth, both in our core area of Inverclyde and beyond.”