GOUROCK-based Bowman Rebecchi Letting has acquired Inverclyde counterpart Castle Estates in a “six-figure” deal.

Castle is said to be the largest independent residential lettings agency in Inverclyde, and manages nearly 350 properties across Glasgow, Renfrewshire and Ayrshire, as well as in its local market. All four of its staff will transfer to Bowman Rebecchi’s new offices in Gourock’s Kempock Street.

Castle, which was established 20 years ago, has been sold by owner Neil Woodhead, who is retiring.

Bowman Rebecchi was founded by Andrew Bowman and Marco Rebecchi in February 2020, and in December formed a joint venture with Glasgow-based Newton Lettings. The deal was struck to boost the companies’ position in the west coast residential market.

Mr Rebecchi said: “Across our group of businesses, we now manage 1,100 properties, both commercial and residential, and this acquisition makes us one of the largest independent letting agencies in Scotland.

“We look forward to further growth, both in our core area of Inverclyde and beyond and continue to welcome new clients.”

Mr Woodhead said: “I have had several offers for the business but elected to complete the sale with Bowman Rebecchi Letting. I believe its operation is the best fit for Castle Estates’ current customers, staff and the future potential of the organisation.

“I look forward to watching the business development under the stewardship of Bowman Rebecchi Letting and would like to thank our loyal clients for their support over the past two decades.”

Riccardo Giovanacci, managing director of Glasgow-based agency Newton Lettings, and a director in the Bowman Rebecchi Letting joint-venture said: “We are delighted to have acquired Castle Estates and its current clients and tenants.

“Neil has been very supportive, and we thank him for his collaboration to complete the deal. We wish him a happy and well-deserved retirement.

“Castle Estates has a successful track record across the west coast of Scotland and delivers a significantly greater reach to our residential letting arm.

“There is a high demand for rental properties throughout towns and villages across the central and west of Scotland, and we look forward to meeting our new landlords to support their investment aims.”