The Fusion Group has announced the launch of Drysdale & Company, a brand new commercial property agency, which although sitting within the Group’s collection of individual brands, will operate as a fully independent business.
The new venture is a collaboration between Stuart Drysdale (MRICS), formerly of Christie & Co, who, over his career, has been involved in the sale of over £50m worth of hospitality assets, and Alex McKie, Managing Director of The Fusion Group, which operates a Meetings & Events company, as well as Old Churches House, Dunblane, and Logierait Lodges in Pitlochry.
Commenting on the launch of the new venture, Stuart Drysdale said, “We are very excited to launch this new agency. It’s good news, we believe, for the Scottish business community, that start-ups are still going ahead despite the pandemic, and that we see growth and opportunities for 2021. This new agency is also providing badly needed assistance – and fresh, realistic options- to the hospitality sector, at what is the most anxious and stressful time it has ever faced.”
He believes the new company can help clients who may consider selling up, but the new company will also benefit from Fusion Group’s additional expertise to help explore other options too. “We’re all about giving them the opportunity to present their properties and businesses to the market in the best possible way,” he said.
“Concluding the sale and getting your money quickly can be crucial at a time like this.”
“Equally however, asset disposal is only one of the different solutions and pathways we are offering, Fusion Group’s extensive experience in operating and marketing hospitality businesses comes into play here with options such as potential management services, accommodation booking services, and joint ventures & leasing, all designed to boost revenue and improve an operator’s profit margin. Ultimately, this can mean that perhaps they don’t have to sell up at all, or if they do, they will achieve a much better price.”
Said Alex McKie, MD of Central Belt based Fusion Group, “Having gone through the purchasing and disposal experience ourselves with our own property portfolio, I definitely see a gap in the market for our combined approach and even more so now than ever. We are delighted to be in partnership with Stuart, who brings to the table expert knowledge and a respected pedigree. Drysdale & Company is a one-stop shop which will quickly establish itself as a professional, welcoming, and trusted source of advice in the industry.”
Commenting on how he sees the hospitality sector recovering in the coming year, Stuart Drysdale said that he expected to see a shift in trading patterns, and ultimately, values for the foreseeable future, with staffing levels likely to reduce in the short term, but with quality of product and service expected to remain the same as they were pre-Covid.
“We expect to see a rise in the popularity of self catering and exclusive use accommodation,” he said. “Rural businesses should also fare better as more people choose to holiday closer to home and explore parts of the country they may not be familiar with.”
Finally, Stuart Drysdale pointed to challenges in the cities, particularly with reduced footfall, due to a higher percentage of people working from home throughout the week.
“There will be an increased need for revised rents in many city centre hospitality venues, to reflect the adjustment in trade many businesses will see in the short to medium term. Hopefully, with the continued roll-out of the vaccine programme, coupled with improving seasonal temperatures, we will start to see customer numbers across the hospitality sector returning towards pre-Covid levels later in 2021.”
www.drysdaleandcompany.co.uk. The Fusion Group www.tfgoc.com.