Agency restructures in move to take on ‘rollercoaster’ property market

SCOTTISH estate agency Cairn Group has restructured its management team as the firm seeks to take on the “rollercoaster” of change in the lettings market.

Paul Shields is stepping up to the post of joint managing director after 17 years as finance director.

He is joined by Jennifer Mcgonigle, who has been the firm’s sales and investment director for 13 years.

Meanwhile, Fiona Herbin has been promoted from associate to letting director, having been with the company since 2007.

The overhaul comes amid a raft of legislative changes in the lettings sector.

It also follows a period of significant growth for Cairn, in the wake of the acquisitions of JJM Properties in Glasgow, Grange Letting in Edinburgh, Stephen Mcintyre Letting in Portobello, Glasgow-based Rannoch Property, Clyde PM, the factoring arm of estate agent Clyde Property, and the Scottish arm of Glasgow-based Nationspaces Developments.

“Congratulations to Paul, Jennifer and Fiona, whose promotions are richly deserved,” Cairn Group chairman David Rowand said.

“All three have been instrumental in the growth and development of the firm to date over an extended period of time.”

Mr Shields said he was delighted to be assuming the joint leadership role along with Ms Mcgonigle.

“Having relished the rollercoaster of trends and changes in the property market at Cairn through the last 13 years, I look forward to deploying the experience and knowledge gained in both sales and letting as joint managing director, alongside Paul, to the benefit of the firm,” Ms Mcgonigle added.

Ms Herbin said: “I’m delighted to have been given the responsibility to assist our existing landlords grow their portfolios at a time when legislative changes and the introduction of Private Residential Tenancy impact on letting agencies and landlords, ultimately in our clients’ best interests.”

The firm employs 25 people and aims to double its turnover to £3 million and portfolio to 2,500 units under management within the next five years.