A Dundee couple who have outlined ambitions to rapidly grow a portfolio of 5,000 residential properties are considering business opportunities valued at £200 million.
Graeme and Leanne Carling – known in Tayside for their Carling & Co property firm — have launched a new business called PRS Group.
Backed by high net worth international investors, PRS Group is looking to grow a huge rental portfolio by buying out existing landlords.
Since unveiling their plans in The Courier earlier this month, the Carlings say they have been approached by landlords nationwide offering business deals totalling £200m.
Graeme, who is due to meet with potential funding partners in the USA, said: “We are in full-on expansion mode and have been impressed by the businesses which have approached us, some of which we are seriously considering for purchase.
“There are many landlords out there who are being squeezed by new tax and regulatory changes in the private rental sector.
“It’s difficult right now to be renting private property without some sort of scale and investment behind you, which is where PRS Group comes in.
“I think that’s why we’re seeing so many people knocking on our doors.”
The Carlings currently have more than 350 properties under their control and are thought to be Scotland’s largest independent residential landlords.
They are also looking to purchase property management companies to look after the newly acquired properties.
As well as private investors, their new venture is being backed by banks in the UK.
rmclaren@thecourier.co.uk