Midlands boost for Lomond after it snaps up Centrick’s estate and lettings operations
The deal was secured through Lomand’s John Shepherd brand and sees a rental portfolio of 1,300 homes and 25 staff and offices all transfer over.
Lomond has strengthened its foothold in the Midlands after buying all three high street estate and lettings agency branches of property specialist Centrick – its 50th acquisition in three years.
The deal was secured through Lomand’s John Shepherd brand, whose offices span the West and East Midlands and sees a rental portfolio of 1,300 homes and a team of over 25 staff, and offices in Solihull and Nottingham, all transfer to John Shepherd.
BIGGEST AGENCY
The Birmingham high street estate and lettings agency team, one of the biggest agency operations in the city, will move from Centrick’s Birmingham office in the city to John Shepherd’s high street operation on Colmore Row.
Richard Crathorne (main picture, left) Chief Executive of John Shepherd, says: “This deal represents the perfect geographical and strategic fit as the footprint of the Centrick’s high street portfolio mirrors our own, covering all the bullseye locations across the West and East Midlands.
“As part of this acquisition, we’ll also be welcoming senior members from Centrick’s award-winning high street agencies to our business to ensure continuity of service to our new customers.
“They include their three branch managers – Mike Nabarro from Birmingham, Callum Rowlands from Nottingham, and Gary Sammons from Solihull – along with the agency lettings leadership team of Afreen Iqbal and Stuart MacDiarmid.”
CENTRICK
Centrick will continue with its PRS Lettings & BTR Asset Management operation as well as its Building & Estate Management services and its new homes and offshore investment sales arms from its Birmingham office.
Centrick Founder James Ackrill (main picture, right), adds: “Our high street agency has always been extremely successful, holding numerous awards and top positions in a number of areas, driven by incredible property professionals.
“All of the Centrick high street agency team will be transferring to John Shepherd who have a long and trusted history.
“This means that all of our high street clients will continue to be looked after by the people they already know and trust without any loss of service.”
Ed Phillips, Lomond Chief Executive, says: “Delivering 50 acquisitions in just three years has been a real team effort that is unparalleled in our sector – it represents one deal every three weeks, and has grown our lettings portfolio to around 43,000.”
The Neg revealed last week how Lomond had acquired Beal’s Estate Agents in Hampshire – one of the county’s leading independent agencies – for an undisclosed sum, more than doubling its footprint along the South Coast.
