The acquisitional juggernaut that is Lomond has hoovered up another lettings firm, this time Leeds student accommodation specialist Sugarhouse Properties.

This firm was established 13 years ago by Charles Aston and Richard Napier (pictured, LtoR) both of whom had experience of property management including student lets and HMOs before setting up Sugarhouse.

With a single branch located on the city’s famous student-littered Otley Road, their company has become one of the largest independent student lettings agents in Leeds, with the firm having also branched out to provide lets to professional tenants in recent years.

Sugarhouse has a 370-property lettings portfolio, including large numbers of HMOs within the Leeds area and puts a strong emphasis on providing high quality and well managed accommodation – an approach that has seen the firm win multiple industry awards including, four years ago, a Silver award for Yorkshire & Humber Letting Agency of the Year.

Student lettings

“We’ve put a great deal of blood, sweat and tears into Sugarhouse Properties and we’re immensely proud of the outstanding business we’ve built and the reputation we’ve developed across the student lettings sector,” says Napier.

“However, we believe that now is the right time to allow the business to evolve and with the help of Lomond, we’re extremely excited about what the future holds.

“It’s clear that Lomond places a real emphasis on empowering the businesses they acquire and with the additional assets that this deal will provide Sugarhouse Properties, we can’t wait to see how the brand evolves going forward.” The pair are to stay with the firm for a handover period and the company will continue to trade and its current name.

Formidable

Lomond’s CEO, Ed Phillips, adds: “Sugarhouse Properties is an outstanding company and one that has formed a formidable reputation within the student lettings space over the last 13 years.

“The company’s culture is centred around delivering high quality accommodation, with management and customer service to match, so it was clear from the start that both Lomond and Sugarhouse shared a great deal of synergy and that combining forces would be beneficial for all involved.

“What’s more, they’ve gone against the grain with respect to traditional marketing methods, utilising online channels that resonate with their target audience and with the help of Lomond’s marketing assets, we look forward to helping supercharge these efforts.”

The deal is the 66^th acquisition by Lomond to date and was brokered via the Atomic Consultancy.

Pic credit: Yorkshire Evening Post.