On and On! Yet another acquisition by Lomond Group

The relentless expansion of Lomond Group continues apace with the acquisition of a Leeds-based independent, ERE Lettings.

ERE’s 600 units under management are in existing Lomond Group areas including Leeds, York, Hull, Manchester and Birmingham.

The management of the properties, as well as the ERE Lettings team, will be shared between three of Lomond’s High Street brands.

More than 330 properties are transferring to Linley & Simpson, and its 21-branch network across Yorkshire and Humberside. Over 170 are switching to Thornley Groves, which operates 15 offices throughout the North West. John Shepherd’s Midlands operations will inherit another 79.

ERE Lettings was part of ERE Property, an investment company with offices in Leeds and Hong Kong which specialises in sourcing buy to let properties in high-growth areas in the UK.

The sale of its lettings arm will enable ERE Property - founded almost 20 years ago by Tim Morgan and Robert Medd - to focus exclusively on this core investment business.

As part of the deal, ERE Property will link up with the Lomond Group and place its future pipeline of properties under the management of its nationwide network of letting agencies.

This latest acquisition follows on from the Lomond Group’s purchase of Manchester-based Property Hub Lets in August, which saw over 700 properties across Yorkshire, the North West and the Midlands transfer to the same trio of brands.

Lomond managing director Will Linley says: “We are thrilled with the location and the quality of the properties we now manage. We are also excited by the prospect of more to come, as ERE Property strengthens its presence in Hong Kong and now Dubai to meet the growing needs of overseas investors with an appetite for UK rental property.

“Its portfolio covers the ideal geographical footprint for us as we already have a strong presence across the major cities that ERE Lettings has targeted as buy-to-let hotspots.

“We have now sealed two major, multi-regional acquisitions within the space of just eight weeks and, eyeing the future, it is a model we are eager to replicate when the right opportunities present.

“It further underlines the unique proposition of Lomond Group and our strength in being able to link together our regional brands to accommodate a diverse geographical portfolio.”