Linley & Simpson acquisition pushes Lomond’s lettings book to over 35,000
Estate agency has bought portfolio of some 630 properties from Preston Baker, which is to concentrate on sales and other disciplines.
The unstoppable march of lettings specialist Linley & Simpson across Yorkshire continues with its acquisition of 620 properties under management, backed by cash from the Lomond Group, of which it is a part.
This follows the acquisition of Preston Baker’s lettings book for an undisclosed sum after the agency decided to focus on its sales operation while developing its existing new homes, land and planning, and financial services.
As part of the deal, the properties spanning North, West and South Yorkshire – plus ten lettings staff – will transfer to Linley & Simpson.
They will be integrated into existing offices in Leeds, York and Wakefield, part of its growing network of 23 branches across Yorkshire and The Humber.
“This investment is yet another vote of our continuing confidence in the energy of the private rented sector in our Yorkshire heartland,” says Linley & Simpson CEO Nick Simpson (pictured).
Leeds-based Preston Baker was founded in 2008 as a one-branch agency with four staff. The multi-award-winning company now employs a team of 85 and operates out of eight offices.
Its joint founder and MD, Ian Preston, says: “We have long been highly regarded for helping people at the end of their home-buying journey.
“We’re now keen to maximise our skills and insight in supporting them at the start – that’s why the extra expertise offered by our land-buying and planning teams sit at the heart of this strategic repositioning of our business.”
The Lomond Group, which Linley & Simpson is part of, now has a combined portfolio of over 35,000 properties, worth around £8bn.
