Lettings and estate agents snapped up by fast-growing agency
Manchester-based Allison & Co and Pad Residential have been acquired by lettings and estate agency group Thornley Groves for an undisclosed amount.
Allison & Co and Pad Residential manage 350 properties across Manchester and join Manchester agency Thornley Groves, which now has 3,000 properties under management across the city.
Thornley Groves is itself owned by the Lomond group, which recently completed a major merger to bring together some of the strongest letting and estate agency names on the UK High Street.
Today’s news is just one of four new acquisitions it has made across the UK, bringing its total portfolio to 23,000 properties under management.
Jason Watkin, chief executive of Lomond Capital in Manchester, said: “We are delighted to welcome the clients and staff of Allison & Co and Pad Residential.
“Lomond group offers us the ideal blend of local knowledge and national structure.
“These acquisitions are a continuation of our approach to building our business while retaining our successful local approach.”
He added: “We are actively looking for new opportunities to grow within Manchester.”
Lomond merged with leading Yorkshire residential lettings firm Linley & Simpson at the beginning of 2021.
The merger brings together some of the strongest letting and estate agency names on the UK high street.
Lomond employs more than 580 members of staff through a network of regional businesses in Aberdeen, Birmingham, Edinburgh, St Andrews, Manchester, Brighton, Leeds, York, Hull and Sheffield.