LOMOND Capital, the acquisitive property management firm, is preparing to enter the London market after buying two firms in quick succession to help cement its position in the UK private rental sector.
Edinburgh-based Lomond acquired Manchester’s Hallmark Residential last week. It bought Tanat-Jones & Company, which serves Brighton and Hove, earlier this month.
The prices of the deals were not disclosed.
Lomond has made six acquisitions this year to further its plan to build the UK’s premier manager of residential assets by consolidating strong regional players.
Chief executive Bruce Evans said the latest deals strengthen Lomond’s position in the key south and north west markets ahead of a push into new areas.
“We aim to sell over £1 billion worth of properties next year in addition to building our portfolio to over £4bn,” said Mr Evans.
On its website, Lomond says it manages £2.7bn UK residential assets.
The company said it is in the latter stages of negotiations to enter the London lettings and sales markets for the first time with further deals planned across the UK.
Lomond secured £37.5 million acquisition funding earlier this year.
It expects the private rental sector to grow significantly in the UK in coming years.
Lomond has bought 34 businesses in the sector since November 2010.
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