Commercial Property News

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Thursday, February 02, 2024

Profits treble at Kilmartin Property Group

Kilmartin Property Group, the Edinburgh-based trader and investor, has confirmed a leap in profits last year from 1.4m to 6.4m and says it is on course for 7.5m in the current year to the end of April.

The group also appointed three new directors during the year. Group Head Iain Wotherspoon said: "My ambition is to get to 10m (profit). We have built a new team in Edinburgh with appointments, and we have opened in London with two resident directors. They have got a 100m development programme and the company has got 1.5bn of developments including joint ventures."

Kilmartin has more than trebled turnover to 103m in a year which saw a series of successful development ventures in the retail sector. The group has acquired what it says are "a number of new strategic assets which will become the key profit generators for the coming two to three years".