News

Increasing work opportunities in Montrose has led to the birth of a new serviced accommodation firm.

Bides, which specialises in short-term lets, was set up in Montrose High Street this year after demand for properties rocketed.

Owner and former oil and gas worker Craig Fleming has focused on the business since taking voluntary redundancy from Baker Hughes in March.

He now manages 12 properties and is looking to attract more owners, highlighting the potential for better returns than traditional long-term rentals.

Arbroath resident Craig, who is married to Elaine, converted a property they owned in Edinburgh from a long-term rent to serviced accommodation in 2020.

They wanted the flexibility to be able to use the flat when visiting friends in the capital and were surprised at how much more income was achieved.

The couple then bought two properties in Montrose for the same purpose.

Craig said: “We bought our first flat in Montrose in 2021 and I did a full refurb and managed the property myself.

“Managing one property alongside a full-time job was manageable with the help of a cleaner.  We bought another and it was still doable as we had someone who wanted it fairly long-term.

“Really things grew from there accidentally.  I built up quite a lot of contracts with contractors in the renewables space.

“One was looking for a bigger property for a longer period which I was able to source for them.

“Other people in Montrose heard what I was doing and said they wanted to do something with their property but didn’t know where to start.”

Taking redundancy in March allowed Craig to increase his focus on Bides.

It now manages 12 properties with more owners expected to come on board in the near future.

Craig says the returns people can achieve from serviced accommodation are greater than a normal rental.

He said a two-bedroom flat in Montrose might achieve between £650 and £750 a month.

But the same flat might achieve £80-£100 a night at serviced accommodation.

“Even at just 50% occupancy and with the costs of energy and council tax, it makes more,” Craig explained.

“The property is also kept at a very high standard, with regular cleans and maintenance.”

Craig said his company, which occupies the former Clelland & Co premises on the High Street, can also handle obtaining a council licence, ensuring compliance and managing the properties.

Bides can also advise people on what properties would be suitable for short-term lets before they buy.

He said the business is going to focus on properties in Angus with the new Inch Cape offshore wind farm, which will have its operations base at Montrose, bringing more workers to the area.

Craig has also set up a forklift and cherry picker training business from the same premises called 9 Knots Training.