Scotland-based real estate agency Lomond has successfully acquired four new properties. The move comes after the company recently announced a merger with Linley & Simpson, a Yorkshire-based real estate firm, at the beginning of 2021.
Lomond has acquired Pad Residential and Allison & Co in Manchester, while the other two are Brighton’s Halls Estate Agents and Craigflower Lettings in Edinburg. The company has added a further 700 properties under management to its portfolio.
It is reported that Lomond will merge the acquired businesses into its existing brands such as Braemore, Brand Vaughan, Groves and Thornley. The brands are spread across Edinburg, Brighton and Manchester.
Lomond group chief executive Stuart Pender, told the media, “These deals very much signal our intention to continue to consolidate regional markets through our network of market leading regional agents and is a continuation of our approach to building our business while retaining our successful local approach. We are looking for new opportunities to work with good quality lettings and estate agencies across all of our regions.”
Linley & Simpson has added more than 600 homes to its portfolio in December last year and has acquired the residential lettings and management division of Dacre, Son & Hartley.
Lomond’s business is spread across places such as Sheffield, Manchester, Brighton, Leeds, York, Hull, Birmingham, Aberdeen, Edinburgh and St Andrews. The company currently manages over 23,00 residential properties and has over 580 staff under its team.
The pandemic has hampered the business of many global real state companies like any other companies.