Rapidly expanding property group, Lomond Capital has recently announced that they have acquired one of the most well established letting agencies in Brighton. The property group has taken over Tanat-Jones & Company. This new business deal is the second acquisition for Lomond in Brighton, following the purchase of Brand Vaughan which took place in March.
Following this most recent acquisition for the property group, Lomond Capital now manages more and 1,500 properties in this region alone. Going forward, Tanat-Jones & Company will operate under the Brand Vaughan name. Lomond Capital successfully secured £37.5 million in acquisition funding earlier in the year and has been using this funding in order to grow their business presence in the South of England.
As a part of the company’s plans to expand, they are also in talks to expand their presence by entering the London lettings and sales market for the first time. Going forward the company plans on expanding their operations across the UK. Lomond Capital has set themselves the target of having £4 billion worth of properties under its management by the end of next year, 2018.
The property group has also carried out work to restructure their senior management team with the appointment of the banking stalwart Pete Flockhart. Pete has been appointed to the role of Chief Financial Officer at Lomond Capital. Other moves by the company include the promotion of Bruce Evans to the position of Chief Executive. The acquisition of Tanat-Jones helps the property group to cement their presence in the Brighton property market and is the beginning of a fresh push into a range of new markets. It is thought that by having a foothold in the promising Brighton private rented sector will be great for the company as they look to expand their operations across the UK.
