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DJ Alexander has announced the acquisition of Sandstone UK Property Management Solutions Ltd, trading as Sandstone Management.
DJ Alexander is based in the heart of Lomond, Scotland and in just three years has acquired nearly 60 property companies with total property and lettings agency revenues now exceeding £100 million per annum and the number of properties under management now exceeding 45,000.
The acquisition of Sandstone will add approximately 2,000 homes to DJ Alexander’s managed property portfolio. Sandstone, formerly known as Grant Properties, was founded in 1989 by Peter Grant.
David Alexander, CEO of DJ Alexander, said: “We are close to 60 acquisitions across the group and this latest deal is particularly exciting for me as it complements our expansion in Scotland. With 2,000 more properties under management, we are well positioned to become the market leader north of the border – and we’re not done yet.”
“We are mission-driven and eager to do more business. We will continue to expand and specialise our sales and lettings divisions and are always on the lookout for quality business.”
Ed Phillips, CEO of Lomond, commented: “As you can see from our relentless drive, we are aiming to grow to become the ultimate leader and largest acquirer in UK estate agents. We have the resources and team to do this quickly and there is no other company in the UK property industry that can match our ambition and capabilities.”
Sandstone CEO Peter Grant added: “After 25 years building one of the largest and most respected residential property management companies in the region, it’s time to move on to our next goal.”
“I’m proud of what we’ve built and am confident that I will be able to hand over in good form to DJ Alexander and the Lomond team for the next phase of Sandstone. I look forward to seeing the business I love continue to evolve and grow under new leadership, with great management at the helm.”