The company Lomond has made another significant move in the Scottish market by completing a new acquisition.
Lomond has acquired Tay Letting along with its substantial rental portfolio, which contains over 2,000 properties across Glasgow, Edinburgh, and Dundee.
The properties will be managed by Lomond’s prime brand in Scotland, DJ Alexander, merging smoothly into their existing offices in Glasgow, Edinburgh, and St Andrews.
Having previously acquired the entire Scottish rental portfolio of Purplebricks in May, Lomond has now successfully executed four important deals in Scotland within nine months.
This recent acquisition brings the total count of properties managed by DJ Alexander in Scotland to more than 10,000, and Lomond’s UK-wide management now encompasses 42,500 properties through its network of High Street brands.
Ed Phillips, the CEO of Lomond, commented: “Acquiring Tay Letting, a top property management specialist in Scotland, is exciting for us as it enhances our footprint in three vital areas with this high-quality portfolio.”
“The portfolio perfectly aligns with our existing branches in terms of geography and strategy.
“Our investment not only reaffirms our dedication to grow in pivotal Scottish locations, but also reflects our positive outlook on the robust Scottish rental market.
“Successfully carrying out such a large acquisition was a team effort, and I appreciate the hard work from our team at Lomond that ensured a smooth transition for landlords and tenants,” said Phillips.
David Alexander, CEO of Lomond in Scotland, also expressed excitement: “The team at DJ Alexander is eager to offer our top-notch, individualized services and innovative solutions to our new customers.”
“As a recognized Great Place to Work, clients can expect unsurpassed local expertise and market knowledge. We are actively looking for more acquisition opportunities to accelerate our growth in Scotland,” Alexander stated.
Marc Taylor, the founder of Tay Letting, expressed contentment with the transition: “We are pleased to pass the business onto Lomond to be managed under the esteemed DJ Alexander brand, and we trust that our landlords and tenants will be well looked after.”
