Lomond Group has expanded its Midlands footprint even further after it snapped up the entire rental portfolio of Paul Carr Estate Agents.
Around 1,000 properties spanning North Birmingham and South Staffordshire will transfer to Lomond’s John Shepherd brand bringing the total number of homes under its management to 5,500.
BRANCH NETWORK
The agency will retain Paul Carr’s letting office headquarters in Four Oaks, Sutton Coldfield – increasing its Midlands branch network to seven. It will also employ Paul Carr’s centralised lettings team of 20.
The deal comes just a fortnight after John Shepherd launched a dedicated office in Nottingham after Lomond acquired the 600-strong lettings portfolio of Royston & Lund, extending its reach across the East Midlands counties of Nottinghamshire, Derbyshire and Leicestershire.
Ed Phillips, Lomand
Ed Phillips, Lomond Chief Executive, says: “We are thrilled to have struck this transformational deal – our biggest in the Midlands.
“It cements John Shepherd’s standing as the market-leading brand in the Midlands as well as firmly establishing it as the region’s biggest lettings specialists.
“This strategic deal is another clear signal of our ambitions to expand further at pace and scale across the UK. Our acquisitions pipeline will continue to see Lomond launching in new target areas as well as strengthening our presence in existing prime locations.”
STRATEGIC FIT
Richard Crathorne (main picture, second right), John Shepherd’s Chief Executive, adds: “The deal is an ideal geographical and strategic fit – both Paul Carr and John Shepherd have our roots embedded in the Sutton Coldfield area, having opened my first office in Sutton Coldfield in 1998.
Richard Crathorne, John Shepherd
“The West Midlands and now the East Midlands is at the centre of our community. Between Paul Carr and myself we have been helping people move home for over 70 years.”
And he adds: “Paul Carr is a respected sector stablemate whose rental portfolio is rich in quality and quantity. Its lettings arm has been a long-standing target for us, as we continue to leverage our operations across the Midlands.”
Main picture: (Left to right) Fiona Cassidy; Jodie Hayward; Maria Gibbons; Rianne Smith; Richard Crathorne and Ahmed Rehman.
