The Lomond Group has acquired Manchester-based homes4u and student rental specialists Around Town Flats under its Thornley Groves brand as part of a UK-wide expansion strategy.

The two deals inject 1,400 properties into Thornley Groves’ portfolio, which has a growing network of high street offices across Greater Manchester and Cheshire. It has made 10 acquisitions in the last year, almost tripling the size of its business; Thornley Groves now has nearly 6,000 properties under its management compared with 2,400 at the end of 2020.

Thornley Groves boss Jason Watkin says the latest deals will help it accelerate this portfolio past the 10,000 mile-stone by the end of the year. “The offices we inherit from homes4u equip us with a golden opportunity to consolidate our Manchester presence by launching in new, bullseye locations,” says Watkin.

“This springboard includes Deansgate, a bustling mile-long stretch of road that connects pretty much every part of the city centre, as well as the in-demand and vibrant student suburb of Fallowfield.”

Flagship

He adds that the opening of these flagship branches will increase its network to 11, including three in the city centre, where the resurgence in new build shows no sign of slowing. “Just within the last few days, permission was approved to create four huge new towers – including a 60-storey skyscraper – as part of a £494m scheme to create 1,950 apartments,” adds Watkin.

“Our new Fallowfield base is also a tactical move. It will give us uninterrupted coverage along the belt linking the centre and our major South Manchester hub in Didsbury.”

The Lomond Group merged with Linley & Simpson at the end of 2020, bringing together some of the strongest letting and estate agency names on the UK high street. This deal will see the owner and managing director of homes4u, Carolyn Mellor, retiring and continuing her involvement in a number of charities.