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Lomond, one of the UK’s largest acquirers of property and letting agency businesses, today announced its latest acquisition within the East Midlands, following two recent acquisitions within the region. Further strengthened the Shepherd brand.
The company, which previously acquired the Nottingham and Derby lettings in Royston and Lund, and shortly thereafter acquired Centric’s significant lettings portfolio, will now acquire Nottingham-based agent Tassi Sales & Lettings. announced the acquisition.
Lomond’s latest acquisition signals the next step in the company’s organic growth strategy to further strengthen its presence in one of the UK’s fastest growing regional property markets.
The acquisition of the three-branch business, originally established in 2009, will see Lomond’s John Shepherd brand inherit approximately 768 rental properties across Nottingham, as well as expand its footprint within the student market and bring it under management. It will expand its rental portfolio in an area to approximately 8,000 properties.
John Shepherd, which already operates 10 high street branches covering the West Midlands, Warwickshire, Worcestershire and Staffordshire, will continue to employ the experienced team at Tassi Sales and Lettings. , continue to serve a new customer base.
The latest deal further strengthens Lomond’s presence in the region and marks the company’s 53rd acquisition since its founding just three years ago.
Lomond CEO Ed Phillips commented: “The overall property market in the Midlands has grown significantly in recent years and is therefore an area of particular focus for us as we help realize our growth objectives.
“Our latest acquisition will help us further strengthen our presence in the East Midlands market, particularly Nottingham, and will further strengthen the impressive footprint we have already been able to establish in a short period of time. I guess.”
Richard Crathorne, chief executive of John Shepherd, said: “We have already established an excellent rental portfolio across the Midlands and continue to see consistent demand from investor landlords who recognize the opportunities on offer within the region.
“Nottingham is certainly a regional hotspot in this regard and our recent acquisitions will not only help us significantly expand our portfolio, but also build on the experience and experience of the team already established at Tassi. We can leverage our expertise to do that.”