Lettings and property management firm Dwello Property has purchased the lettings business of Thomson Residential Ltd, marking its first acquisition. This move is part of Dwello’s strategy to expand across the Central Belt, with the company aiming for record revenue.
Growth and Ambitions
Since opening its Byres Road office in spring 2025 and an Edinburgh office earlier this year, Dwello has built a portfolio of over 1,500 homes under management. The company works with around 400 landlords and supports more than 2,000 tenants. Dwello’s rapid growth can be attributed to its focus on improving key aspects of the lettings sector, such as reducing letting turnaround times and enhancing customer communication. This customer-centric approach has not only driven its success but also earned it recognition in the industry.
Dwello has been shortlisted for Residential Letting Team of the Year at the Herald Property Awards 2026, a sign of its commitment to excellence. The company expects its turnover to reach £2.5 million by 2028 and £4 million within five years, while growing its portfolio to more than 2,000 homes. These ambitious targets reflect Dwello’s confidence in its ability to maintain its high standards as it scales.
Acquisition Details
The acquisition of Thomson Residential’s lettings business will increase Dwello’s headcount to 21, bringing in experienced professionals who will contribute to the company’s continued success. Bank of Scotland supported the deal with a £520,000 term loan, alongside a banking switch. This financial backing will enable Dwello to pursue further growth opportunities, while investing in its people, systems, and processes.
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Dwello will continue operating from Thomson Residential’s Clarkston Road office, maintaining a local presence in Glasgow‘s south side. This strategic decision ensures continuity for existing landlords and tenants, while strengthening Dwello’s position in the area.
Craig Syme, director at Dwello Property, emphasized the acquisition’s significance, stating it provides a fantastic opportunity to accelerate growth in Glasgow’s south side. He also praised Neil Thomson for building Thomson Residential into a trusted and respected firm, expressing pride in being entrusted with its legacy. Syme highlighted that Dwello’s expansion will not come at the expense of its core values, reaffirming the company’s commitment to managing properties as if they were its own.
David Drylie, relationship manager at Bank of Scotland, commended Dwello’s impressive growth and thoughtful scaling strategy. He noted the company’s dedication to maintaining a local presence, which allows it to stay closely connected to the landlords, tenants, and communities it serves. The bank’s support reflects its belief in Dwello’s potential to create jobs and contribute to Glasgow’s economic development. Drylie expressed enthusiasm for continuing to back Dwello as it grows and strengthens its position in the Central Belt.
