Law firm and estate agent Gilson Gray has doubled in size in Dundee by acquiring a city rival.
The company has completed a deal to takeover legal firm and estate agent Baillie Shepherd.
All Baillie Shepherd’s 15 employees will join Gilson Gray, including directors Alan Baillie and Peter Shepherd and well-known court solicitor Ken Glass.
Gilson Gray set up in Dundee last year and has a city workforce of more than 30 staff following the Baillie Shepherd deal.
Head of Dundee office Lindsay Darroch said the transaction takes the firm to the “next stage”.
“We’ve had a phenomenal first 12 months in Dundee,” he said.
“This move effectively doubles the size of the firm in Dundee and takes us into the top three as far solicitor estate agents are concerned.
“I have known Alan for a number of years and knew that we had much common ground in the way we do business and most importantly, how we look after clients.
“So this was a neat fit to move us quite quickly onto the next stage in relation to the Dundee market.”
Baillie Shepherd on Gilson Gray deal
Legal firms Alan J Baillie and Shepherds previously combined to form Baillie Shepherd. It operates an estate agent and offices in Union Street.
Its strengths have been in private client, property and court work. The Baillie Shepherd name will not be retained.
Mr Baillie describes the deal as an “excellent move and great fit”.
He said: “The deal brings a number of advantages and our clients will benefit from the full suite of legal services at Gilson Gray.
“I am delighted that myself and my team, all of whom have transferred over to become Gilson Gray employees, are able to join such a pro-active, client-focused firm.”
Gilson Gray in more acquisition talks
Gilson Gray moved to Dundee last year and quickly merged with property company Wallace and Co Property Management.
Mr Darroch, who joined a year ago, said Gilson Gray was looking at more potential acquisitions in Dundee.
He said the search was now on for larger city premises to have all staff under one roof.
“We are working hard to get premises to bring everyone together,” he said.
“Hopefully this deal is the first of many. There’s been a number of approaches made to me and a number of conversations happening.”
Confidence in Dundee market
Mr Darroch, who previously worked at Blackadders and Aberdein Considine, said Gilson Gray was optimistic about Dundee’s prospects.
He highlights the number of commercial developments and initiatives in the pipeline.
Meanwhile the city’s property market remains strong.
The property expert said: “The market is still going like a train. It’s still at a level I’ve never seen before ever in terms of price rises and activity.
Gilson Gray takes over Dundee firm Baillie Shepherd
Blog by Shannon Robb from Gilson Gray, one of our member firmshttps://t.co/sr0suoUMTD
— TSPC (@Tayside_SPC) October 5, 2021
“Compared to 2019, from May to September the number of listings is down but the number of sales are up.
“More sales than properties coming onto the market so prices are continuing to go up.
“My fear is we may get to a stage where people don’t list their property as there’s nothing they want to buy and the market shuts itself down.”