The Duke of Buccleuch, Scotland’s largest private landowner, is selling the John Sale estate agency and chartered surveying business.
Buccleuch Property, the Duke’s property company, is in advanced negotiations to sell the business to Scottish property consultant CKD Galbrait for an undisclosed sum.
Buccleuch John Sale has 30 staff based in three offices in Kelso, Galashiels and Peebles. It will continue to service clients as a fully integrated part of CKD Galbraith.
The deal will increase the number of CKD Galbraith offices in
Heads of terms have been agreed between CKD Galbraith and The Buccleuch Group, and the purchase is expected to be completed within a month.
John Glen, chief executive, The Buccleuch Group, said: “The Buccleuch Group purchased John Sale in April 2004 with the aim of growing its existing activities in the Borders and beyond.
“This was partly achieved by combining some of our in-house activities, but the existing market conditions now require it to extend its commercial reach further.
“Consequently, it makes sense for John Sale to join forces with CKD Galbraith for whom this represents a unique opportunity to move into the Borders, enabling both to fulfil their ambitions as the economy improves.”
James Galbraith, chairman of CKD Galbraith, said: “We will be joining forces with a team that shares many of the same values as CKD Galbraith and believe our combined resources will offer a depth, breadth and quality of service to clients that is not available in the Borders.”
