Lomond’s march towards UK lettings dominance continues
Boss Ed Phillips says the properties acquired in Scotland share the same footprint as its existing network of offices so represent the ideal fit.
Lomond has bought Tay Letting and its rental portfolio of more than 2,000 properties spanning a trio of key territories – Glasgow, Edinburgh and Dundee – for an undisclosed sum.
The homes will be managed by DJ Alexander, Lomond’s flagship brand in Scotland, and will transfer into its branches in Glasgow, Edinburgh and St Andrews.
STRATEGIC DEALS
Lomond – which acquired the entire Scottish lettings portfolio of Purplebricks last May – has now completed four deals in Scotland in just nine months.
This latest acquisition grows DJ Alexander’s lettings portfolio in Scotland to over 10,000 properties while the total number of units under management of Lomond’s expanding UK network of High Street brands stands at 42,500.
Ed Phillips (main picture), Lomond’s Chief Executive, says: “Tay Letting is one of Scotland’s premier letting and property management specialists and we are thrilled to bolster our presence in three key heartlands with a portfolio of this size and calibre.
“The properties share the same footprint as our existing network of offices so represent the ideal geographical and strategic fit.”
PERSONALISED SERVICE
David Alexander, Lomond’s Chief Executive in Scotland, adds: “The DJ Alexander team looks forward to bringing our high-quality, personalised service and innovative approaches to a brand new group of clients.
“They will benefit from the unrivalled local knowledge and market insights that you would expect from a company that has been crowned as a Great Place to Work.
“We are determined to add further pace and scale to our growth journey in Scotland and are already exploring new acquisition opportunities.”
Tay Letting was founded by Director Marc Taylor in 2009.
He says: “We are delighted to hand over the firm to Lomond to operate under the DJ Alexander brand which has an excellent reputation in the market.
“I am confident our landlords and tenants are in safe hands.”
The Neg revealed last week how John Ennis, the charismatic former Chrestertons chief executive, has joined Lomond as Group Chief Sales Officer.
