The latest deal by Lomond Capital means the rapidly expanding property group now manages over £2.5 billion of residential units.
Lomond has now acquired Wolf’s Lettings and Estate Agency, a Birmingham property business operating in both Harborne and the city centre.
Wolf’s manages more than 750 properties, bringing the number of units managed by Lomond’s Birmingham operation, John Shepherd, to 2,000 in total. Wolf also has a sales and new homes division which is added to the John Shepherd estate agency offering.
The acquisition sees John Shepherd extend its footprint into the key Harborne market by retaining and rebranding the busy Wolf’s Harborne branch and its nine-strong team of experienced employees. Wolf’s city centre business, including its seven employees, will join the John Shepherd offering at its new city centre branch when it opens in June.
The deal is the second since Lomond Capital completed a fund raising process last month, providing the group with £37.5m of capital funding to expand its existing regional network and extend its reach to the south coast of England and London. It follows the previous acquisition of south coast agency Brand Vaughan in Brighton.
Lomond Capital was started in 2010 and now manages residential properties worth in excess of £2.5 billion, says it sells more than £600m worth of property per annum and employs more than 365 members of staff.
It currently has businesses in Aberdeen, Birmingham, Edinburgh, St Andrews, Manchester and Brighton and is planning further investments across the south of England and London.