Thornley Groves buys Allison’s city centre rental business
ESTATE agents Thornley Groves has made its maiden acquisition since it was bought last year by Scottish property group Lomond Capital.
The company has acquired the Manchester city centre rental business of estate agents, Allison & Co, bringing the number of properties under its management to 2,300.
Allison Boateng, owner of Allison & Co, formerly known as Isaac Anthony, will continue to operate its other branches in Urmston and Monton but will no longer let property in Manchester city centre.
The deal is Lomond’s third acquisition in Manchester, including Altrincham-based Thornley Groves, which it acquired last Septembe r and Penny Shton earlier in 2013.
Stuart Pender, chief executive of Lomond Capital said: ““Manchester has a very attractive property market offering with the largest private rental sector outside London. It has been a key market for Lomond Capital for some time now.
“We continue to look for opportunities to strengthen our offering in Manchester whilst working on a number of opportunities in other cities in England including Leeds and Birmingham.”
Allison Boateng will work alongside the founders of Thornley Groves, Michael Groves and Jason Watkin, to ensure a smooth handover for landlords and tenants.
Thornley Groves chairman Michael Groves said: “This acquisition will serve to strengthen our market leading position as the estate agent with the widest range of stock in Manchester city centre, thus attracting more buyers and tenants. This in turn will make us even more attractive to new landlords and vendors who will want to ensure their property is exposed to the largest possible audience.”
