Lomond Group eats up another independent family agency

The Lomond Group has further extended its footprint in North West England for its latest agency acquisition deal.

Through its Thornley Groves brand it has bought Matthews of Chester; the deal sees Matthews’ rental portfolio of 380 properties, a growing residential sales arm, plus a team of more than 12 people, all transfer to Thornley Groves.

It will retain the Matthews of Chester brand and its branch in the city; its letting and property management teams will remain in Cheste.

This increases the number of offices operated by Thornley Groves alongside its recently-acquired sister agency, Julian Wadden and Company, to 15. 

Chief executive Jason Watkin says: “Matthews of Chester is one of the city’s longest-established lettings specialists and has built up an impressive portfolio and a reputation to match. With its Roman walls, Chester - the county town of Cheshire - continues to be an in-demand location for renters and buyers alike. It has long been a target location for us as we continue to accelerate at scale and at pace our operations across swathes of North West England.

“We are thrilled to gain such a strong foothold in this thriving city by acquiring a counterpart that has been the pulse of its lettings market since it first opened its doors in 1986. It shares our strong local roots and heritage. Both of us have been matching people and property in this sought-after region of the UK for over 30 years, so it's a perfect match.”

Matthews of Chester was launched and managed by Tim and Sue Matthew until their retirement in 2012. Since then it has been run by daughter Rebecca and husband Kevin O’ Reilley, who have now also chosen to retire after completing the smooth handover of their business to Thornley Groves. 

Thornley Groves has grown rapidly throughout the past two years, completing over a dozen acquisitions which have more than tripled the size of its business; it currently has close to 7,000 properties under its team’s management, compared to 2,400 at the end of 2020 when it became part of the Lomond Group.