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PRS Group considers £200m worth of new business as expansion plans get underway

PRS Group, a new force in the property sector, is considering £200m worth of new business opportunities after announcing its plans for rapid expansion.

Dundee based PRS, owned by Graeme and Leanne Carling, has been offered a plethora of property portfolios for sale all over the U.K.

PRS wants to expand its private rental properties by 5,000 as quickly as possible. It currently owns and rents more than 350 properties, and also has maintenance, management and development arms.

Graeme, who is due to meet with potential funding partners in the USA, said:

“We are in full-on expansion mode and have been impressed by the businesses which have approached us, some of which we are seriously considering for purchase. There are many landlords out there who are being squeezed by new tax and regulatory changes in the private rental sector. It’s difficult right now to be renting private property without some sort of scale and investment behind you, which is where PRS Group comes in. I think that’s why we’re seeing so many people knocking on our doors.”

PRS has secured financial backing from banks in the U.K., as well as individuals and investors overseas. Graeme is an outspoken commentator on the U.K. property market. He has previously written about the negative way in which renting is perceived in Britain by the public and the media and has applauded suggestions for reforms in the private rental sector to tighten up the rules for private landlords.

PRS Group owns and manages 350+ rental properties all over Scotland, making the Carlings Scotland’s largest independent residential landlords. The couple also head up United Capital, a new player in the financial investment sector.

Scotland’s largest independent private landlord speaks out on ‘cradle-to-grave’ renting

Scotland’s largest independent residential landlord has spoken out on one of the property sector’s hottest topics – so-called ‘cradle-to-grave’ renting.

In an article in today’s Herald newspaper, Graeme Carling, slams the negative way in which renting is perceived by members of the public and the media.

“In everything from casual conversation to newspaper reports, when it comes to stories about people renting their home, the language is subtle, the message clear. Renting is frowned upon, while home ownership is held up as some sort of holy grail,” he writes, adding: “Even the phrase ‘property ladder’ implies there’s something to escape, and if we’re not careful we’ll fall back into it.”

Graeme applauds a recent report from the Resolution Foundation which demands reforms in the private rental sector. And he sets out his views on how he thinks private landlord regulations could be tightened up to address “part-time landlords”.

But he cautions: “Renting is here to stay, and a massive cultural shift is ahead of us. It’s time public perception changed, and private landlords stepped up to the plate. All of us need to start treating renting seriously.”

Graeme’s comments came in the same week that he announced the opening of a new affordable housing development, in Angus. Funding for the £900,000 project, which features apartments and, still to come, houses, came partly from a £300,000 grant from the Scottish Government’s Rural Housing Fund, which aims to increase the supply of affordable housing in rural Scotland.

Read the full article in The Herald here.