The acquisition sees Newton, a member firm of The Property Managers’ Association Scotland, continue to expand its presence in the west of Scotland.

Founded in 1825 by John Morison, Morison Walker underwent several transformations, including a merger with Welsh Walker Factoring in 1980, before settling on its current name in 1993. The company has been a staple in Greenock, managing 3,544 properties.

The acquisition follows the retirement announcement of Morison Walker’s directors, Florence Gallacher and Gordon Macphail.

In a seamless transition, the staff of Morison Walker have transferred over to Newton, and will maintain an office presence in Greenock ensuring continuity for clients. Newton will also continue to use local contractors wherever possible, for example for cleaning and gardening, general maintenance and upkeep.

Newton, established in 2001 and headquartered in Glasgow, also has offices in Inverness and Aberdeen and now oversees the management of 34,000 properties nationwide.

Ross Watt, Newton Property Management commercial director, said: “Everyone at Newton Property Management wishes Florence and Gordon well in their retirement. Morison Walker is a historic property management company with deep roots in the Greenock community.

“Through this acquisition, they have ensured that it is very much business as usual for their customers. We will make sure that the transition is as seamless and possible, and will continue to uphold the values of local service as best value.

“This is also a significant moment for Newton, which during my eight years with the company has now quadrupled in size from 8,000 properties to 34,000 properties. It shows that our Newton brand of management continues to be one of the most trusted in Scotland.

“I can assure all customers we aim to make this as smooth as we can, and for those who want to discuss anything with us, our door is always open.”

Ms Gallacher said: “Both myself and Gordon have been proud to serve as directors of Morison Walker Property Management, but following nearly three decades each we believe the time is right to retire.

“We wanted to ensure all our customers’ properties continue to be professionally managed to a high standard, and in reaching this arrangement with Newton we believe that they will continue to receive the very best service.”