ESTABLISHED Edinburgh Property firm DJ Alexander is set for expansion following £7 million in funding from Santander UK.
With the increasing trend for online and digitisation, DJ Alexander will use the growth capital funding package to launch Apropos, a fully integrated online property management portal, to extend the reach of its regional residential property letting business, nationwide. Apropos will be the first full-service UK-wide online tenant and landlord management system of scale on launch, which is set for January 2020.
The development of the online platform has taken three years to complete and has been fully funded from existing profit. The new funding package enables Apropos to be rolled out over the next three years across the UK.
Established in 1982, DJ Alexander Edinburgh Ltd (DJA) is the largest independent property letting agency in Scotland with over 4,000 rental properties under management, principally across Edinburgh and Glasgow. DJA also provides a full estate agency, property investment, maintenance and conveyancing services.
David Alexander said: “We have been very impressed with Santander throughout the whole process and have really appreciated their engagement and involvement with our business and growth plans. We’re excited about our future and look forward to working closely to continue to grow our business.”
Richard Mathison, Structured Finance Director Santander UK added: “We have been working with DJ Alexander over the past 10 months to understand their growth plans and to deepen our knowledge of their business and the opportunities available with the launch of the new online platform, Apropos. During this time, we have been extremely impressed by their management team and their vision for a future lettings environment by creating a transparent digital platform benefiting both landlords and tenants alike. We look forward to supporting the business and its future ambitions.”
The finance was provided by Santander’s structured finance growth capital team. The finance is a type of investment provided in order to support SME businesses with growth plans or expand into new products and markets. For more information visit www.santandercb,co.uk/growthcapital.