Two acquisitions make Lomond biggest lettings firm in Scotland

Fast-expanding Group has made the claim after revealing two lettings book acquisitions in Aberdeen and Glasgow.

Lomond Group has added some 600 properties to its rapidly-growing portfolio following the acquisition of two letting agencies in Scotland, making it the biggest operator in the country.

The first deal has been completed by its Aberdeen-based Stonehouse estate agency, which has bought competitor Geraghty-Gibb taking the total number of properties under management at Stonehouse to over 2,000.

Its newly-acquired properties will be shared between Stonehouse’s two branches which consist of its Riverside Drive head office in Aberdeen, and Kemnay.

The second deal is by Lomond Group’s DJ Alexander estate agency, which has added 330 properties to its tally after taking over the lettings book of Glasgow block management specialists Speirs Gumley.

The latter will now focus exclusively on its core business of residential and commercial property management and investing in its future growth.

Seven members of the Speirs Gumley lettings team are transferring to DJ Alexander, which has just opened its new flagship branch in the heart of Glasgow’s famous West End.

10,000  properties

Lomond Group says this double deal takes its total lettings book across Scotland to 10,000+ making it easily the largest operator north of the border.

aileen merchant stonehouseAileen Merchant, Stonehouse’s Managing Director, said: “We are thrilled to acquire an agency of Geraghty-Gibb’s calibre in a deal that is the ideal fit, and one which strengthens our presence as the district’s premier letting agency.

“It is also perfect timing, as the sector is witnessing its busiest period in a decade or more.”

David Alexander (pictured), Chief Executive of DJ Alexander and who heads up Lomond Group’s Scottish operations, said: “Expansion has always been central to our plans, and this duo of deals marks yet another exciting step forward for our company.

“I believe there are excellent opportunities across all of our Scottish heartlands, and we will continue to grow in the coming years as landlords, property investors, and tenants welcome the growing range of services we offer and the quality of delivery we provide.”

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