Edinburgh-based Lomond Capital, the rapidly expanding property group, has acquired SDL Group’s Birmingham residential lettings portfolio, which comprises 500 city centre properties, formerly the CP Bigwood residential lettings portfolio.
This is the first city centre acquisition since Lomond Capital’s regional brand, John Shepherd, moved to its flagship city-centre office last year and cements its leading position in the Birmingham residential property market – enhancing the size of the team to 75 as seven SDL employees come on board.
It follows the acquisition of Wolf’s in May last year, which saw John Shepherd extend its reach to Harborne, and is the fourth acquisition since Lomond Capital merged with John Shepherd in 2014. Lomond’s Birmingham offering under the John Shepherd brand also includes Marwood Homes and John Shepherd Estate Agents and Lettings.
Bruce Evans, Chief Executive of John Shepherd’s parent company, Lomond Capital, said: “John Shepherd’s strength and depth mean it is already the number one lettings and estate agency brand in Birmingham. As such, we are seeing more opportunities come through our doors such as the high profile Princes Gate development which is due to be launched by John Shepherd New Homes. However, we are not resting on our laurels and are continuing to grow organically and through acquisitions such as this. We have a strong pipeline of further acquisitions across the country and would invite anyone looking to sell their property management business to reach out to our team.”
Richard Crathorne, joint Chief Executive of John Shepherd Lettings and Estate Agents added: “This is a fantastic portfolio of city centre properties and we are committed to providing ongoing quality, professional management services to its landlords and investors. That will be made all the easier with the great team from SDL who will be joining our ranks ensuring consistency and insight into the management of these properties.”