The Lomond Group has bought one of Scotland’s largest estate agency firms DJ Alexander for an undisclosed sum just 48 hours after reports that it’s in talks to buy London prime agency Chestertons,
Acquiring DJ Alexander makes Lomond Group the largest estate agency in Scotland and a major player within its lettings market and takes Lomond’s headcount to over 1,000. It is also the group’s 24th acquisition this year.
Lomond Group’s network of estate agencies across the UK now manages some 30,000 properties including 9,500 in Scotland.
It also has two other Scottish letting agencies, Braemore Lettings and Finholm in Edinburgh – which are to be subsumed into the DJ Alexander brand, and Stonehouse in Aberdeen.
DJ Alexander will continue to trade under its existing name, with founder David Alexander (main pic, middle) leading the Lomond business in Scotland as CEO. Andrew Seldon (main pic, right) will become CEO (North and West Scotland) responsible for the group businesses in Glasgow and Aberdeen, reporting to David Alexander.
Stuart Pender (main pic, left), Group Chief Executive of Lomond Group, says: “DJ Alexander is a highly respected agency in the Scottish central belt with a reputation for excellence in the industry.
“We are delighted to bring the brand and its people into the Lomond Group, significantly strengthening our presence in Edinburgh and Glasgow.
“The acquisition emphasises our focus on consolidating fragmented regional markets to enhance the proposition our sector offers to clients while maintaining a local, on-the-ground approach which brings significant benefits to landlords and tenants.”
David Alexander adds: “Anyone who has ever worked with me over the last 40 years knows how driven and passionate I am.
“I thank them from the bottom of my heart in helping to establish a trusted and recognisable brand across central Scotland. I will take the same drive and passion to the Lomond Group and look forward to playing my part in establishing it as the UK’S number one agent.”
The Neg understands that Apropos, the property management platform for self-employed estate agents set up by David Alexander in 2019, is not part of the deal.