A leading brand in the fast-growing and heavily-funded Lomond Group has snapped up another independent agency.
Linley & Simpson has added another 1,600 properties to its portfolio - once again in Yorkshire.
It has bought the business of the historic agency Larards Lets in a deal which doubles the number of homes under its management across Hull and the wider East Riding of Yorkshire.
Linley & Simpson will retain the team of 15 and chief executive Nick Simpson says: “The Larard name is part of a dynasty that has been synonymous with the Hull and the wider East Riding of Yorkshire property market for well over a century.
“We are thrilled to welcome a company with such a pedigree into the Linley & Simpson family, as well as all its high-calibre people who will remain their current clients’ first point of contact.
“Since we opened our doors in Hull three years ago, the region has represented a major acquisition focus for us. Its appeal for landlords and tenants continues to increase and it regularly ranks among the most-improved cities in the UK to live and work.
“Its population stands at its highest for more than two decades, with most growth in the number of people in their mid-20s to mid-30s – an age group particularly attracted to the advantages of renting.”
The Lomond Group - backed by a private equity firm - now has a combined portfolio of over 35,000 properties under management; and operates major hubs in private rental hotspots including Aberdeen, Birmingham, Brighton, Edinburgh, Glasgow, Hull, Leeds, Manchester, Sheffield and York.
Its brands include Linley & Simpson across Yorkshire and the Humber; Thornley Groves in Greater Manchester and Cheshire; John Shepherd in its Birmingham and Midlands hub; Brand Vaughan plus Michael Jones and Company in the South East; as well as DJ Alexander and Stonehouse in its Scottish heartlands.
The group wants yet more acquisitions and Simpson says: “We are eyeing further acquisition opportunities in the [Yorkshire] area. That underlines the confidence we have in investing in its future, and consolidating and widening our presence there.”
With the exception of student lets, Larards Lets - which has roots back to 1896 - handles all types of residential property from individual units to purpose-built blocks of apartments