Lomond maintains momentum within the East Midlands with latest acquisition
Lomond, one of the UK’s largest acquirers of estate and letting agency businesses, has today announced its latest acquisition within the East Midlands, further bolstering its John Shepherd brand following two recent acquisitions within the region.
Having previously acquired the Nottingham and Derby lettings book of Royston and Lund, swiftly followed by the significant rental portfolio of Centrick, the firm has today announced the acquisition of Nottingham based agent, Tassi Sales and Lettings.
Lomond’s latest acquisition signals the next step in the company’s organic growth strategy to further solidify its presence within one of the UK’s fastest growing regional property markets.
Originally established in 2009, the purchase of the three branch business will see Lomond’s John Shepherd brand inherit some 768 lettings properties across the Nottingham territory whilst also increasing their footprint within the student market and expanding their regional rental portfolio to almost 8,000 properties under management.
John Shepherd, which already operates 10 high street branches covering the West Midlands, Warwickshire, Worcestershire and Staffordshire, will retain the experienced team from Tassi Sales and Lettings who will continue to service its new client base.
The latest deal will further bolster Lomond’s presence within the region, while also marking the company’s 53rd acquisition since launch just three years ago.
Lomond CEO, Ed Phillips, commented:
“There has been significant growth across the Midlands property market in recent years and, as such, it has been a particular area of focus for us in helping to realise our growth ambitions.
Our latest acquisition will help to further bolster our presence within the East Midlands market and Nottingham, in particular, building on the impressive footprint we’ve already managed to establish in a short period of time.”
Chief Executive of John Shepherd, Richard Crathorne, commented:
“We’ve already established an impressive rental portfolio across the Midlands and we continue to see consistent demand from investor landlords who recognise the opportunities on offer within the region.
Nottingham is certainly a regional hotspot in this respect and our latest acquisition will not only help to expand our portfolio considerably, but it allows us to do so with experience and expertise of an already established team at Tassi.”