John Costello and Andy Taylor have quit their posts at Knight Frank to set up their own web-based property consulting company.
Costello spent three years as a partner in KF’s Glasgow office while Taylor was based at KF’s Edinburgh office. They are joined by Brendan Morris, former group property director for Scottish energy company Thus.
Drew Oswold, partner in charge of KF’s Edinburgh and Glasgow offices, said: “We were expecting it. Thus wanted to outsource its property advice. It was a client of ours, but we’re hopeful John and Andy will go from being our employees to being new clients. They go with our best wishes.”
Costello said: “Knight Frank was disappointed about us leaving, but we’re not competing with them, they’ll be one of our suppliers.”
The new venture, known as The Virtual Property Company, will initially target telecoms companies needing property advice. Costello confirmed the firm is looking for offices in Glasgow. He described the venture as a property company which offers traditional services in a different way. “The role of the property agent is changing and unless agents adapt quickly it’ll be more difficult for them to make their margins,” he said.
The Virtual Property Company can be contacted at www.virtualpropertyco.com.
EGi News 22/06/00
