Growing property industry giant Lomond Group’s effort to become a dominant force in the industry continue after buying Sussex estate agency Michael Jones, which will now join forces with local firm Brand Vaughan.
The two companies share several local markets within the county in and around Brighton.
Described as a ‘transformation deal’, it brings together two of the biggest names in the Sussex agency market whose combined operations makes them the market leader in Brighton and Hove, Worthing, and along the South Coast, it is claimed.
Michael Jones has seven branches while Brand Vaughan, which was bought by Lomond in 2017, has four branches. It also owns Palms Properties in Brighton Marina, after acquiring its rental portfolio in March.
The two home-grown Sussex agencies will each retain their brands, branch networks, and teams of staff, and between them they now manage 4,000 properties.
Will Linley, Lomond’s Group Managing Director, said: “We are thrilled to welcome a market-leading agency of Michael Jones’ calibre to our rapidly-growing network.
“It strengthens and broadens our presence across Sussex, which is a prime location for further business growth.”
Tom Ghibaldan (main pic, right), Chief Executive of Brand Vaughan, said: “This is a transformational deal that is a great strategic and geographical fit for both agencies and our people.”
Michael Jones (main pic, left), Chairman of the agency he founded in 1991, adds: “Both sets of teams have strong Sussex roots, enjoy the same traditional values, and share a passion for properties and the people who live in them.
“Drawing on that synergy, joining forces is very much a natural progression.”
His company joins a burgeoning estate agency giant which includes Linley & Simpson; Thornley Groves; John Shepherd; Stonehouse and Braemore.