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Lomond Capital acquires two more property firms

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image captionBruce Evans said the latest deals strengthened the company's position in two "key" regions

Fast-growing Scottish property management group Lomond Capital has made its second acquisition in two weeks.

The Edinburgh-based firm said it had bought south Manchester sales and lettings agent Hallmark Residential for an undisclosed sum.

The deal follows the purchase of Tanat-Jones and Company in Brighton and Hove.

The transactions bring the value of properties under Lomond's management to £2.7bn.

It aims to boost that to more than £4bn by the end of 2018.

Lomond recently overhauled its boardroom ahead of a "major push" into new markets in England through acquisitions.

'Great deals'

The firm's group managing director, Bruce Evans, replaced founder Stuart Pender as chief executive, and a new chief financial officer was appointed.

Lomond said the latest acquisitions demonstrated its "continued strength" in the UK private rental sector.

Mr Evans said: "We're finishing off 2017 with two great deals that strengthen our position in two key regions - the south as we look to the London market, and the north west, where Hallmark Residential marks our seventh acquisition.

"Bringing Hallmark Residential into our fold enhances our position in this important market.

"We continue to look for quality business in key regions around the UK and are looking to push into new markets which could dramatically change the value of our portfolio.

"Indeed, we aim to sell over £1bn worth of properties next year in addition to building our portfolio to over £4bn."

Related Topics

  • Brighton
  • Manchester
  • Mergers and acquisitions
  • Edinburgh

More on this story

  • Lomond Capital prepares for 'major push' into new markets

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