Lomond buys 600-strong lettings book as it targets East Midlands
The region is fast becoming a heartland for the estate agency giant with over 1,000 properties and other Midlands deals in the pipeline.
Growing industry giant Lomond Group has bought the Nottingham and Derby lettings book of Royston & Lund and through it has boosted the group’s footprint across its latest target territory – the East Midlands.
The 600 properties inherited by its John Shepherd brand takes its rental portfolio across Nottinghamshire, Derbyshire and Leicestershire past the 1,000 mark – with other Midlands deals in the pipeline.
RESIDENTIAL SALES
Royston & Lund, based at West Bridgford in Nottingham, will now focus exclusively on residential sales to support its growing local brand in the East Midlands area.
John Shepherd, which already operates six High Street branches covering the West Midlands,Warwickshire, Worcestershire and Staffordshire, has retained the established Royston & Lund lettings team (main picture) and will service its new clients from Nottingham.
Lomond Chief Executive Ed Phillips says: “We are thrilled to be making giant strides in further extending our footprint across the East Midlands.
“Growing our presence here, as well as in neighbouring West Midlands, continues to be an important strategic ambition for us as we step up our acquisitive journey over the next six months.
“This will not only see our brands consolidate their market-leading position in existing core UK regions, but also Lomond investing and launching in brand new territories.”
ORGANIC GROWTH
Richard Crathorne, John Shepherd Chief Executive, adds: “After last summer’s multi-regional acquisitions, the East Midlands has been an area where we have witnessed significant organic growth, thanks to the high number of investor landlords it attracts.
“The acquisition of Royston & Lund’s high-quality rental collection, as well as its established lettings team, equips us with a strong platform on which to accelerate our growth, both in size and in reach, across this in-demand region.”
The Neg revealed last month how Lomond was cementing its position in the North West after sweeping up the rest of Harvey Scott’s Greater Manchester rental portfolio after buying its Cheshire lettings book last year.
