Lomond has snapped up another rental portfolio.
It’s been acquired from the Rendall & Rittner Sales & Letting agency which had a portfolio spanning the Build To Rent sector plus traditional rental units in three north of England locations.
The deal sees a proportion of the portfolio transfer to Lomond Investment Management and the remainder - buy to let units in Manchester, Liverpool and Chester - to Lomond regional brand Thornley Groves.
The deal will now see Rendall & Rittner focus on its core block management specialism and its other property management services across the country.
Jason Watkin, Lomond’s chief executive in the north west, says the deal takes its rental portfolio in the region past 7,000 units.
“The Manchester city centre skyline is being dominated by new-build units on an unprecedented scale– some 4,600 homes are being brought to life and due for completion this year. This presents a real window of opportunity for us to grow our portfolio organically throughout the rest of 2024, as well as delivering more pipeline acquisitions in the north west.”
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