Newton Property continues expansion with latest acquisition

The acquisition, which comes hot on the heels of Newton Property’s recent merger with Aberdeen-based Watt & Co, will see an increase in the number of properties managed by Newton Property to 15,000 factored properties and 600 letting stock.

Stephen O’Neill, managing director, Newton Property, said: “We are delighted to have purchased Greenhome, which takes Newton into the top five privately owned property factoring companies in Scotland.

“We are also delighted that all members of the Greenhome management staff will join the Newton team and will assist with a seamless transition for Greenhome’s clients.

“2015 is a great time for the property sector in Scotland and has been a particularly exciting year for Newton Property. The next stage in Newton’s development is to consolidate our growth, tuck in our new expanded portfolio and colleagues and to look forward to further growth in 2016 and beyond.

“Newton have always been trailblazers in this industry, our fresh, free thinking and personal approach to property factoring is something which will benefit our new clients and our market position will continue to put pressure on the established players to improve their services.”

Alex Middleton, CEO Greenbelt Holdings Ltd, said: “Greenhome is all about customers and management. The acquisition by Newton provides an excellent fit and I am sure both the customers and the new merged management team will benefit from greater opportunity. I wish them all the best going forward.”