Glasgow's Newton Property Management grows to 34,000 properties after takeover of 'historic' firm

Ross Watt is commercial director at Glasgow-based Newton Property Management.

Bosses said the company would continue to use local contractors wherever possible.

Newton Property Management, the Glasgow factoring business, has sealed the takeover of historic Greenock-based Morison Walker Property Management on undisclosed terms.

The deal was agreed after Morison Walker directors Florence Gallacher and Gordon Macphail announced they were to retire from property management. Morison Walker was founded in 1825 by John Morison and has been based in Greenock ever since. In 1980 it acquired Welsh Walker Factoring to become Morison Walker and Company, before a reorganisation in 1993 saw it renamed Morison Walker Property Management.

The deal sees Newton, which is a member firm of the Property Managers’ Association Scotland, continue to expand its presence in the west of Scotland. Formed in 2001, Newton is headquartered in Glasgow, with further offices in Inverness and Aberdeen, and now manages factoring for some 34,000 properties across Scotland.

The agreement has resulted in staff at Morison Walker, which has more than 3,500 properties under its management, transferring over to Newton, which will maintain an office presence in Greenock for customers. Newton said it would also continue to use local contractors wherever possible, for the likes of cleaning and gardening, general maintenance and upkeep.

Ross Watt, Newton Property Management’s commercial director, said: “Everyone at Newton Property Management wishes Florence and Gordon well in their retirement. Morison Walker is a historic property management company with deep roots in the Greenock community. Through this acquisition, they have ensured that it is very much business as usual for their customers. We will make sure that the transition is as seamless and possible, and will continue to uphold the values of local service as best value. This is also a significant moment for Newton, which during my eight years with the company has now quadrupled in size from 8,000 properties to 34,000 properties.”

Gallacher added: “Both myself and Gordon have been proud to serve as directors of Morison Walker Property Management, but following nearly three decades each we believe the time is right to retire. We wanted to ensure all our customers’ properties continue to be professionally managed to a high standard, and in reaching this arrangement with Newton we believe that they will continue to receive the very best service.”