Nottingham estate agency sold to bullish national counterpart

Lomond, the acquirer of estate and letting agency businesses, has revealed its latest acquisition within the East Midlands.

The swoop for Nottingham-based Tassi Sales and Lettings will add to its John Shepherd brand following two recent acquisitions within the region.

Lomond recently bought the Nottingham and Derby lettings book of Royston and Lund, followed by the rental portfolio of Centrick

Originally established in 2009, the purchase of the three branch Tassi business will see Lomond’s John Shepherd brand inherit some 768 lettings properties across the Nottingham territory whilst also increasing its footprint within the student market and expanding their regional rental portfolio to almost 8,000 properties under management.

John Shepherd, which already operates 10 high street branches covering the West Midlands, Warwickshire, Worcestershire and Staffordshire, will retain the team from Tassi Sales and Lettings.

The deal marks the company’s 53rd acquisition since launch just three years ago.

Lomond CEO, Ed Phillips, said: “There has been significant growth across the Midlands property market in recent years and, as such, it has been a particular area of focus for us in helping to realise our growth ambitions.

“Our latest acquisition will help to further bolster our presence within the East Midlands market and Nottingham, in particular, building on the impressive footprint we’ve already managed to establish in a short period of time.”

Chief executive of John Shepherd, Richard Crathorne, added: “We’ve already established an impressive rental portfolio across the Midlands and we continue to see consistent demand from investor landlords who recognise the opportunities on offer within the region.

“Nottingham is certainly a regional hotspot in this respect and our latest acquisition will not only help to expand our portfolio considerably, but it allows us to do so with experience and expertise of an already established team at Tassi.”