Thistle Property was founded by Derek Stephen in 1968 with the renovation and letting of Edinburgh tenement flats. At this stage Derek was involved in a very hands on manner and the company quickly grew and built a portfolio of rental flats which were directly managed by Derek and his team.
In the early eighties the residential flats were sold and the company moved to focus on commercial development and investment and office developments were completed across the city, many of the buildings are still retained within the Thistle Property Group. At this time the company also opened and ran one of the cities first serviced apartment blocks at Royal Garden Apartments, Queen Street and this lead to further diversification within the group as it moved forward.
In the 2000’s Thistle moved on to its largest residential development, converting a brownfield site to the south east of the city into 254 modern apartments. After completing this development the company began investing in other property developments throughout the UK and expanding the work it does in Edinburgh city centre and throughout Scotland.
Moving forward Thistle has ongoing interests in residential developments, high street and out of town retail, office, licensed trade, hotel, serviced apartment and industrial sectors both on its own and through joint ventures with carefully selected like minded companies. Derek is still heavily involved in the day to day running of the business, adding almost 50 years of development and property experience, allowing Thistle to unlock value during difficult and challenging market conditions.