Lomond Capital has acquired John Shepherd Estate Agent in Birmingham as it continues to 'expand south.'
The deal, which includes Marwood Homes and John Shepherd Lettings, is the latest acquisition for the firm which last year appointed Ivor Dickinson - the flamboyant former chief executive office of Douglas & Gordon in London to spearhead its expansion southwards.
Lomond currently has businesses in Aberdeen, Birmingham, Edinburgh and Manchester and is in negotiations with estate agents and lettings businesses in Bristol, Brighton, Reading, Oxford and Cardiff.
Lomond Capital was started in 2010 and now manages residential properties worth in excess of £2.2 billion, sells more than £450 million of property per annum and employs over 350 members of staff.
“The merger of John Shepherd Estate Agents with our existing businesses allows us to create a full service proposition for our clients under the leading estate agent brand in the region. This is the first in a number of larger acquisitions planned in the south of England" according to Lomond chief executive Stuart Pender.
“Our aim is to build a full-service property management businesses in key UK markets that offer private and institutional investors a scale model with a range of offerings from lettings to maintenance, financial products and investment and block management.”