Gillespie Macandrew

Edinburgh-headquartered Gillespie Macandrew had a steady 2011–12, with turnover rising by almost nine per cent from £9m to £9.8m.

This is significant progress for the 22-partner firm, which has more than doubled in size over the past decade through several small acquisitions. In 2004–05, Gillespie had just eight partners and a turnover of £3m.

Gillespie’s core sectors are property, private client and several commercial sectors, including land and rural business, high-net-worth clients, renewable energy and charities. Property, which includes rural business, commercial property and residential, was by far the biggest contributor to the 2011–12 turnover, contributing 41.6 per cent of total revenue.

Net profit stood at a healthy £2.95m in 2011–12. Average profit per equity partner was £227,000, which managing partner Ian Turnbull said was down by around five per cent on the previous year’s figure due to investment in the new hires.

These included recruiting energy partner Hazel Tait from Scottish and Southern Energy in December 2011 to capitalise on the firm’s strengths in this area. Harry Smith, the former head of the builders unit at Scottish firm Morisons, also joined the firm to lead its housebuilder team in September 2011.

Gillespie opened its second office, in Perth, in September 2012.