In this episode of the Scottish Property Podcast, Nick and Steven are joined by Gillian Green, a property investor and short-term rental operator who has expanded from traditional buy-to-lets into serviced accommodation, commercial property, and an apart-hotel project.Gillian shares how her journey evolved from building a personal property portfolio to running a growing short-term rental management company with around 50 units under management. The conversation explores the realities of operating in the short-term rental space, why it’s more hospitality than property investing, and the operational challenges that most investors underestimate.This episode offers a practical look at scaling a short-term let management business — from sourcing deals and managing guests to handling cleaners, maintenance, and fluctuating seasonal demand.🎙️ Episode Highlights

🏨 Why Short-Term Rentals Are Really a Hospitality BusinessGillian explains that many investors enter serviced accommodation thinking it’s simply another property strategy — but the reality is much closer to running a hospitality business.Guest experience, fast response times, and operational systems become just as important as the property itself.Managing guest expectations, handling issues quickly, and maintaining high standards across multiple units are key to building a sustainable short-term rental operation.📈 From Property Investor to Managing 50+ UnitsWhat began as a personal property investment journey gradually evolved into a full short-term rental management business.Gillian shares how the company now manages around 50 properties across several locations, working with property owners to maximise returns while handling the day-to-day operations.The episode explores how the business grew organically through partnerships, networking, and identifying demand in local markets.🏢 Diversifying Into Commercial PropertyAlongside short-term rentals, Gillian and her husband have invested in commercial property — including a multi-occupancy commercial building that houses several small businesses.The deal highlights the benefits of diversification within a property portfolio, particularly when it comes to spreading risk across multiple income streams.With several tenants occupying individual units, vacancy risk becomes far more manageable compared to relying on a single tenant property.🛠️ The Operational Reality of Running Short-Term LetsRunning serviced accommodation involves constant operational oversight.Gillian discusses the practical challenges that come with managing multiple units — including heating issues, maintenance problems, cleaning coordination, and guest communication.These operational responsibilities often surprise investors who expect short-term rentals to be more passive than they really are.🧹 The Importance of Cleaners and Reliable SystemsOne of the most important factors in a successful short-term rental business is having a reliable cleaning team.Cleaners play a critical role in maintaining standards, preparing properties for new guests, and ensuring positive reviews.Gillian explains that building strong relationships with cleaning teams and maintenance contractors is essential when scaling a hospitality-style property business.📊 Understanding Demand, Seasonality & Booking ChannelsThe conversation also explores the reality of demand cycles within the short-term rental market.While summer months and holiday periods can generate strong revenue, winter seasons often see reduced bookings in certain areas.Platforms like Airbnb and Booking.com provide valuable exposure, but Gillian also discusses the importance of developing direct booking channels and contractor relationships to stabilise occupancy levels..

In this episode of the Scottish Property Podcast, the hosts sit down with Andy Haddon, founder of Lost Shore Surf Resort, the £60M surf park development just outside Edinburgh.What started as a bold idea after a visit to a secret surf technology test facility in Spain became one of the most ambitious leisure developments in Scotland.

Today, Lost Shore has been voted Best Surf Park in the World for Customer Experience and Most Innovative Surf Park, competing against nearly 40 surf parks globally.Andy shares the full story behind the project — from early career setbacks and raising the first £40,000, to securing institutional investment and navigating the enormous challenges of building something that had never been done in Scotland before.

This episode is packed with lessons on entrepreneurship, persistence, fundraising, and how a passion project can evolve into a global-scale business.

⭐ Episode Highlights

🌊 From Surf Trip to £60M Development

The idea for Lost Shore started in 2012 when Andy came across an internal email about a surf park feasibility study while working as a surveyor. Curious, he travelled to Spain to see the Wavegarden technology firsthand and realised the concept could work as a commercial surf resort.

📈 Turning £40K into a Multi-Million Pound Project

Andy’s uncle loaned him £40,000 to pay early consultants and feasibility studies. That initial capital eventually helped secure land, planning permission, and early investors — forming the foundation of a £60M development.

🏗 The Power of Property Strategy

Instead of launching straight into development, Andy focused on land strategy first. After securing planning permission, the land’s value increased dramatically — helping attract investors and reduce risk.

💰 Raising Millions from Angel Investors

Andy raised around £3M from 52 angel investors, which funded early planning, engineering, and ground studies. These investors bought into the long-term vision of the project and the potential upside of the land value.

🏦 The Breakthrough Investment

The turning point came in 2021, when Andy secured institutional investment from a Goldman Sachs–managed pension fund through a sale-and-leaseback agreement. This deal unlocked development finance and made the project viable at scale.

⚙️ How the Surf Park Works

Lost Shore uses Wavegarden technology — a lagoon roughly the size of three football pitches powered by 52 engines, capable of producing around 1,000 waves per hour.

In this episode of the Scottish Property Podcast, Fraser Kelly, founder of Kelly Residential, returns to break down the current state of the UK and Scottish property market in early 2026.

The conversation dives into falling mortgage rates, shifting buyer demand, rental market normalisation, and how AI is beginning to reshape property search and estate agency. Fraser also shares key insights on Making Tax Digital and what it means for landlords moving forward.

📊 Economic & Mortgage Market Update

• UK inflation has fallen to 3%, signalling easing economic pressure

• Unemployment has risen to 5.2%, increasing the likelihood of rate cuts

• Strong expectation of a base rate drop from 3.75% to 3.5%

• SONIA swap rates are falling, with sub-4% mortgage deals returning

• Lenders are becoming more competitive, with lower fees and better products emerging

🏡 Scottish Property Market Performance

• Scotland annual price growth: +4.9% (vs UK 2.4%)

• Average property price: £191,000

• Scotland currently outperforming the UK by more than 2x

Top performing areas:

• South Lanarkshire: +10.3%

• North Lanarkshire: +9.4%

High-demand locations include:

• Motherwell

• Glasgow

• Paisley

• Falkirk

• Kirkcaldy

➡️ Demand is shifting toward commuter towns and more affordable areas

👀 Buyer Demand & Market Behaviour

• Properties receiving 30–40+ enquiries per listing

• First-time buyers are returning but still facing affordability challenges

• Offers of 20%+ over Home Report still common in hotspots

• Example: A Battlefield flat sold 24% over Home Report

🏠 Rental Market Trends

• Average rent in Scotland: £1,021/month

• Rental growth slowed to +2.6% (down from 11.7% peak in 2023)

Why demand is cooling:

• Fewer international students

• Increase in purpose-built student accommodation

• More renters transitioning into homeownership

➡️ Key takeaway: The market is normalising, not crashing

🧾 Making Tax Digital (Landlords)

• Starts: April 6, 2026

• Applies to landlords earning £50,000+ gross rental income

New requirements:

• Quarterly reporting to HMRC

• Digital accounting software required

• Full digital record keeping

⚠️ Likely impact:

• Increased costs for smaller landlords

• Potential exit of accidental landlords

• Further tightening of rental supply

🤖 AI & The Future of Property Search

• AI-powered search tools are being integrated into property platforms

• Buyers can search using natural language queries

• Image recognition and digital staging tools becoming more common

However:

• 96% of enquiries still come from traditional portals

• AI adoption expected to be gradual

💡 Key insight:

• Personal branding and trust will become even more important as AI levels the playing field

💡