Dwello Property, a property management and lettings firm, has completed its first acquisition, taking over the lettings business of Thomson Residential. This move is part of Dwello Property's strategy to expand across Scotland’s Central Belt, with a target of £4m turnover within five years.
The acquisition increases Dwello Property's managed portfolio to more than 1,500 homes and its headcount to 21. The company plans further recruitment and aims to grow its portfolio to over 2,000 homes, targeting £2.5m turnover by 2028.
Bank of Scotland supported the acquisition with a £520,000 term loan. Dwello Property will continue to operate from Thomson Residential’s Clarkston Road office, strengthening its presence in Glasgow’s south side.