Lomond Capital, the rapidly expanding lettings business north of the border which is eyeing expansion into England, has bought Edinburgh’s oldest lettings agency.
Charles White has managed residential property in the Edinburgh area since 1840.
Lomond has acquired the lettings division of Charles White, now Charles White Lettings, while the company’s block management division will continue to trade as Charles White. A dozen staff will move across to Lomond.
The acquisition of Charles White Lettings will add 700 properties to Lomond Capital’s portfolio, bringing the total number of properties it has under management to 2,500 in Edinburgh and 3,400 across Scotland.
Stuart Pender, chief executive at Lomond Capital, said: “Our plan to consolidate the UK lettings market is well under way and we are now looking towards deals in Glasgow and beyond Scotland, in Birmingham and Manchester.”
Comments
I doubt it Steve, Scotland is a good place to be a big fish in a small pond for guys such as them. The businesses they acquired fit a certain profile where it would be easy to get them if your chucking money around
I share the concern of most commentators on here about the impact of Shelter's campaign to ban letting agents fees.
Given that Lomond have been buying up agencies in Scotland do they know something the rest of us don't?