By Kristy Dorsey

Glasgow-based factors Taylor & Martin are projecting continued growth with the number of units under management expected to double to approximately 3,000 within the next two years.

Following its recent expansion into Edinburgh, where David Jones has been appointed to head up East Coast operations, the property management firm was appointed to the Bonnington Mill development of 49 riverside flats. Back in Glasgow, Taylor & Martin has been appointed by Drum Property Group to the G3 Square development of 108 luxury units in Finnieston.

With these and other contracts in the pipeline, co-founder Michael Martin said the firm has good visibility on how growth is likely to unfold. While the current restrictions on construction activity will inevitably delay new start dates, management fees are expected to rise to approximately £750,000 within the next two years.

“We are pretty fortunate in that we have been relatively unaffected by coronavirus in our day-to-day operations,” Mr Martin said.

“In fact, since we have gone into lockdown, we have had three or four new business enquiries. It is quite nice to still be getting enquiries amid all this negativity.”

Employing six people, Taylor & Martin was set up in 2013 by Mr Martin and Marc Taylor. Mr Taylor is also the owner of Tay Letting, the rental and investment agency that currently has 1,000 properties under management.

They founded Taylor & Martin after a developer asked whether Tay Letting would be willing to take on the factoring for some of its high-end properties. Since then, the firm has achieved an average of 50% growth year-on-year.

“As we looked in it more and more, we saw that there was a gap in the market for that kind of tailored service,” Mr Martin said.

“We’ve been encouraged that our growth has come not just from developers who put their trust in us from the beginning of a project, but clients with a factor in place who are looking for a more cost-effective and personal alternative to their current service.”

David Jones has joined Taylor & Martin as a senior associate, having previously been a property manager at both Hacking & Paterson and James Gibb.