Ryden agrees London merger

Commercial property firm Ryden is gaining a foothold in the London market after agreeing a tie-up with investment agent Mason Philips.

The deal will see the merged practices operate under the Ryden name, with the Edinburgh-headquartered firm taking on the Regent Street offices of Mason Philips as its base in London.

Ryden, which has six offices, 35 partners and about 110 staff, said the merger “significantly increases” the size of its business in England, where it already has a presence in Leeds following a tieup with asset management firm Hill Woolhouse just over 18 months ago.

With a commercial property portfolio generating about £40 million in rent, covering some 2,100 tenants, Ryden added that almost half of its management income will come from south of the Border and about 20 per cent of its total turnover will be generated outside Scotland.

Bill Duguid, managing partner at Ryden, said: “We have a large and growing number of English-based clients who know and value the service levels Ryden provides.

“It has been a cornerstone of our business planning over the last three years to continue to reinforce our market leader position in Scotland but also, beyond that, to grow the presence of our brand in England.

“Ideal partners for us are small to medium-sized ownerled practices who have grown their business on an ethos of client care. Mason Philips is just such a firm with a small but strong and extremely effective asset management and investment business.”

The deal is expected to see Ryden’s investment activity in England treble within the next two years. Latest results show that the firm turned over £12m in the 12 months to 30 April.