Lomond has acquired another one local independent agency and another agency’s lettings book. 

The agencies in question are Margaret Duffus Leasing in Aberdeen, and the lettings book of Kent-based agency, Regal Estates.

Lomond describes itself as “one of the fastest growing platforms in the UK” with over 70,000 rental properties under management and over 2,700 employees. It has completed over 70 acquisitions since 2021 and calls itself “a leading consolidator in the UK lettings agent market.” 

Its expansion programme is funded by private equity giant ICG.

The portfolio from Regal Estates – which was established 25 years ago and has branches in Canterbury and Sandwich –  will be incorporated into operations at Miles & Barr, an existing brand which Lomond acquired nine months ago. 

John Ennis, chief revenue officer of Lomond, comments: “Our strategy consists of identifying strong businesses and portfolios in our target markets, and this acquisition of Regal’s portfolio in Kent is no different. We are confident we can provide an exemplary and enhanced service to Regal’s landlord clients, and we look forward to embarking on this professional journey with them.”

DJ Alexander, Lomond’s existing agency brand north of the border – and the largest lettings business in Scotland – already operates in Aberdeen so will subsume the 27-year-old Margaret Duffus Leasing.

Kevin Fraser, managing director of DJ Alexander, says: “Our acquisition strategy in Scotland focuses on identifying thriving businesses operating in the most attractive, high-growth markets. Margaret Duffus Leasing fits the brief perfectly, with a loyal client base and strong ties to Aberdeen and the surrounding areas. We look forward to welcoming them to DJ Alexander.”