Who are you?
Michael Groves, Partner of Lomond Capital which is focused on bringing together good quality regional letting and estate agencies to build the UK's premier asset management business.
What does it say on your business card?
Partner of Lomond Capital and Regional Chief Executive (Scotland, the Midlands & North of England)
How long has Lomond Capital been trading?
Lomond Capital was born five years ago and has built up a leading position in key regional markets such as Edinburgh, Aberdeen, Manchester and Birmingham. Thornley Groves, which linked with Lomond two years ago, was established 23 years ago.
What is your elevator pitch?
Like it or not, the residential letting and management sector is changing. Only by consolidation of the sector, which is currently crowded with under resourced one branch businesses, will the industry be able to offer the reach, the range of services and legislation compliance that will be demanded from landlords whether they are private landlords with one property or large funds and institutions with many hundreds.
What is your greatest achievement and what made it so special?
Building a team that helped me create one of the North West’s most recognised estate agency brands – Thornley Groves, and being recognised as such by Lomond Capital who invited us to partner with them in 2013 to help create the UK’s premier estate agency business focussed on letting and management.
What is your property prediction for 2015?
Continued growth in both capital and rental values despite the dramatic increase in new build homes as demand from tenants continues to outstrip supply. We think rents will increase by 22% in the next four years.
What is the most satisfying part of your job?
Partnering with a successful letting agent and funding them to grow their business through acquisition, while still leaving them in the driving seat and with a shareholding.