Festival letting firm aiming at growth in key overseas areas

● Targeting total of 300 properties across Edinburgh

A company providing accommodation to Edinburgh festivals staff and performers is looking to grow turnover by nearly a third next year amid plans to expand its operations to events further afield.

Nestival, based in Marchmont in the Scottish capital, was expecting about 900 tenants to move in to its properties in the run-up to August, letting director Becki Linley told The Scotsman.

She said the business has pursued “managed” growth since starting out five years ago with a “handful of flats”. Its portfolio now numbers 200 properties, boosted by other agents and private landlords, with Linley targeting 300 next year.

She said its sites cover a wide range, with four- to fivebeds in greatest demand, and while she also says prices vary a great deal, one of the most expensive properties on its site, a six-bed home, is listed for about £6,000.

Thebusinesshasacoreoffice team of eight, which expands to a cast of about 30 during the festivals period, and it works as a “trade supplier” to prominent names including Assembly, Underbelly and Gilded Balloon.

“We’ve worked for a number of years now with these partners and they supply me with a nice spreadsheet at the end of the festival with plans for the next year and we… try and house and accommodate as manyoftheirbookingrequirements as we can.”

Nestival’s plans to broaden its horizons include starting work on Adelaide, which holds its own Fringe in February and March, is also considering comedy festivals in Melbourne and Toronto.

However, Linley insists that the plan is to “tackle one city at a time”, although in the longterm, “we’re very much a festival company and that’s where our growth and our development is going to be”. In the next five years, “I see us as a global festival provider”.

Linley co-founded Nestival after working in the student property sector, and being approached by a growing number of landlords, and it focuses on providing local information, particularly given that many guests will be coming from overseas and unfamiliar with the city.

“It’s not a case of you come and collect your keys and that’s it,” says Linley.

Turnover is expected to be up by a quarter in its current financial year, and she is insistent that the Festivals are a huge advantage for the Scottish city. “A lot of venues are heavily invested in making this a great experience for Edinburgh and its tourism.” Sportscotland is the 400th organisation to be awarded Investors in Young People (IIYP) accreditation in Scotland, for recruiting, developing and retaining the talent and skills of its young people. Seven young people involved with the national agency for sport were presented with a silver plaque at Scotstoun athletics stadium from Peter Russian, chief executive of Remarkable, the organisation that delivers the IIYP good practice framework. IIYP was launched in 2014