Lomond Capital expansion drive continues with Brum acquisition
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Edinburgh-based property group Lomond Capital has completed the acquisition of a Birmingham-based estate agency as part of a new expansion drive south of the border.
The deal sees Lomond-owned Marwood Homes and John Shepherd Lettings merge with John Shepherd Estate Agents.
The enlarged business will manage more than £250m worth of properties and sell more than £200m of property each year.
Lomond Capital, which already operates in Aberdeen, Birmingham, Edinburgh and Manchester, was founded in 2010 and across its businesses now manages residential properties worth more than £2.2bn while employing about 350 people.
The business also sells more than £450m of property per year and is now planning a number of further acquisitions in the south of England.
They include other “bolt-on” acquisitions in Birmingham, and negotiations with estate agents and lettings businesses in Bristol, Brighton, Reading, Oxford and Cardiff are currently ongoing.
Chief executive Stuart Pender said: “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 agents brand in the region.”
Lomond’s announcement coincided with the appointment of a new chief financial officer and partner.
Hazel McIntyre joins the Lomond group at the start of April, having spent time with RBS, Green Highland Renewables and Giles Insurance.
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