AMBITIOUS property management business, Lomond Capital, has further expanded its operations in the North-east of Scotland with the acquisition of Yvonne Moir Property Services Ltd.
It is Lomond’s sixth acquisition in the last 12 months and adds a further 300 properties to its portfolio in the North East.
This brings the total number of properties under management in Aberdeenshire to 1,800, establishing Lomond as the largest property manager in the region, having now acquired five businesses locally.
Yvonne Moir Property Services, based in Kemnay, Aberdeenshire, complements Lomond’s existing portfolio as they primarily manage properties in Aberdeenshire and surrounding suburban areas.
Thus far, Lomond has focused primarily on inner city properties in Aberdeen through its Stonehouse and Simpson Brebner lettings brands.
The Aberdeen property market has experienced consistent growth in recent years and has out-performed the central belt over the last decade. Recent figures* suggest the value of property in the city has increased by 105 per cent over the past ten years.
Ross Murray, finance director of Lomond in Aberdeen, said: “The acquisition of Yvonne Moir Property Services brings great benefits to the Lomond offering in Aberdeen. The market is crowded in the city centre so being able to offer tenants out-of-town and suburban properties, as well as welcoming new landlords, is a welcome addition.
“We see Aberdeen as a strategic pillar of Lomond’s Scottish business plan, with its strong micro economy, good transport links and easy access to more diverse properties in the surrounding countryside.
“The Aberdeen property market is booming, so much so that there isn’t enough rental property to go around. This acquisition enables us to access a new lettings market – people who are willing and able to live further out of town.”
Yvonne Moir has over 25 years’ experience in property leasing and will remain with the business, joining Lomond as senior property manager in the Kemnay branch.
She has overseen the growth of Yvonne Moir Property Services into a 300-home operation since launching the business in 2003.
Ms Moir commented: “This is fantastic news for our landlords and tenants. We have come a long way in just ten years and to now be part of Scotland’s most exciting property management business is the perfect next step on our journey.
“Landlords will see cost benefits and new services while tenants should be confident that their existing high level of support will remain firmly in place.”
This latest acquisition is Lomond Capital’s 15th in total as the business continues to consolidate the fragmented lettings market.
It recently expanded into Manchester with the acquisition of Thornley Groves, and is the largest property management company in Edinburgh. This deal is the latest move in Lomond Capital’s £45 million strategy to consolidate the UK lettings market.
In addition to this latest acquisition, Lomond previously completed successful acquisitions of Bon Accord Leasing, Simpson Brebner, KWAD Property and Stonehouse Property, all based in the North-east.
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