The PRS Group, emerging as a major player in the UK’s property market, is ending its first year of business on a high as the sector continues to show promise.
PRS, owned by Graeme and Leanne Carling, has spent the last several months in talks with landlords across the UK as they develop their new company through business acquisition. They now have offers in place worth £130m.
As well as private rental properties, PRS Group includes maintenance, management and development arms. And with more and more private landlords shedding their portfolio because of the heightened regulations and extra costs involved, PRS expects 2019 to be one of “rich pickings”, said Graeme Carling.
PRS has secured financial backing from banks in the U.K., as well as individuals and investors overseas, and expects to reach 5000 rental units much earlier than previously planned. Graeme adds, “We have a very strict investment criteria. Fortunately, with the market being so buoyant, we are able to be very selective with our acquisitions.”
PRS Group owns and manages 350+ rental properties all over Scotland, making the Carlings Scotland’s largest independent residential landlords.
Read more about PRS.