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Lomond has completed the acquisition of Chase Evans in London, completing its 61st acquisition in four years, carving out a new geographic territory in the process.
The acquisition of the London-based letting, management and sales agency gives Lomond a highly established and strong foothold in London for the first time.
Chase Evans is a well-respected agent who has been operating in the London market for over 25 years. The company has branches in key areas including Canary Wharf, Elephant and Castle, City of London, Docklands and Greenwich.
The acquisition marks Lomond’s first in London, although the company has previously focused on existing regional areas such as the North West, Yorkshire, the Midlands, Scotland and the South Coast.
“With approximately 3,500 properties under management, the acquisition of Chase Evans is a significant acquisition and provides an ideal base to establish a presence in London with a view to expanding across the capital in future. Given the international perspective that Chase Evans brings with its overseas property owner base, this acquisition will help the group strengthen this service offering in other major cities.”
The Chase Evans brand will remain Lomond’s anchor brand in the region and, as Lomond’s head office is based in St Mary Axe, the Chase Evans brand will also benefit from the support of Lomond’s wider business.
Ed Phillips, CEO of Lomond, commented: “London is regarded as one of the strongest property markets globally and, although we have held back in the past, the creation of the Lomond London region was always part of our strategic expansion plans.”
“We have been careful not to act prematurely in this regard and have waited until the right opportunity presented itself, and we believe that is exactly the case with Chase Evans, which has an extremely high quality lettings business.
“The acquisition of Chase Evans not only provides us with an immediate foothold in some very important markets, but also inherits a wealth of knowledge and experience that will be essential as we seek to further expand our presence in the Capital Region.”
Adam Holden, director at Chase Evans, said: “We are really looking forward to working with the senior team at Lomond, and especially Ed. [Phillips]John [Ennis] Lucy [Jones] Given the experience in the London market.
“The entire Lomond organization will also provide the support and resources we need to take the Chase Evans business to the next level, and I can’t wait to see where the brand goes from here.”
Ian Ruffle, operations director at Chase Evans, added: “Chase Evans’ success is down to the hard work and dedication of our staff, who are the linchpin of all our operations. They are our extended family and we believe this culture is key to our long-term success. Some of our senior staff have been with the company for 10 to 20 years, so it was important to us that with any deal we did we ensured continuity of the business. Lomond has delivered that.”
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