Clyde & Co has entered into an agreement to transfer its Simpson & Marwick Aberdeen estate agency team to Ledingham Chalmers LLP from 4 November this year.
All 12 Simpson & Marwick Aberdeen staff, including property partner David Geddie and senior associate Lynne Stewart, will transfer along with all Ledingham Chalmers’ personnel to the new entity, trading under the Ledingham Chalmers Estate Agency brand as part of full-service law firm, Ledingham Chalmers.
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Covering all aspects of buying, selling, renting and conveyancing, it will operate from Simpson & Marwick Aberdeen’s current Alford Place premises and Ledingham Chalmers’ headquarters in Rose Street, and will continue to be the only estate agency with a base in Bridge of Don.
The deal creates one of the city’s largest estate agencies in terms of the number and value of properties sold, set against a backdrop of an improving property market: the latest statistics from ASPC show an upward movement in sale prices, along with a continuing modest improvement in sale volume.
Mike Cunningham, partner and head of residential property at Ledingham Chalmers, said: “This deal presents an important evolution of our firm at a pivotal moment for the north east.
“Specifically, this area hasn’t had its troubles to seek over the past few years, but we’re now seeing an improving picture in terms of activity and investment. For example, the city’s bypass opened recently; the P&J Live event arena opened recently too for Offshore Europe, its first conference; and construction’s underway at Aberdeen Harbour Board’s £350million South Harbour development.
“This deal isn’t about increasing size for the sake of it, it’s about bringing together two strong practices delivering unrivalled knowledge and expertise to clients and creating a stronger, sustainable market position in a region that’s experiencing something of a renaissance. That’s our motivation, and we’re excited about what the future holds.”
Mr Geddie said: “This is a client-focused move. I have known and respected the Ledingham Chalmers’ team for many years. We’re enthusiastic about what it means to come together and create something new that offers such an impressive service to clients ranging from first time buyers to those looking at the very top end of the market.
“As well as a seamless transition for all ongoing transactions, a familiar welcome awaits all our clients as we will continue to operate from our Alford Place offices.”
The residential property division of Clyde & Co will retain and continue to use the Simpson & Marwick brand in Edinburgh and East Lothian where it has a team of 30. Clyde & Co’s remaining Aberdeen office, led by partners Harry Boyle and Mark Donaldson and part of the firm’s leading global insurance practice, is unaffected by this move.
David Tait, managing partner for Clyde & Co Scotland said: “We thank David Geddie and his team for their hard work over the years for Simpson & Marwick Aberdeen clients and wish them all the best for the future as they become part of Ledingham Chalmers Estate Agency.”
Once the new team joins, personnel numbers at Ledingham Chalmers, which has offices in Aberdeen, Edinburgh, Stirling and Inverness, will rise to 198 including 33 partners.
The firm can also arrange independent financial planning and mortgage advice through its subsidiary, Golden Square Wealth Management.
All wills, trusts and other executry documentation held by Simpson & Marwick Aberdeen will transfer to Ledingham Chalmers, which offers a full range of private client services.
