Lomond has entered into another brand new region after completing the purchase of Miles & Barr in Kent.
The deal for the well-established agency, which is understood to have been brokered by Atomic Consultancy, is Lomond’s 64th acquisition and the first within Kent.
This latest move, which will see Miles & Barr become the Lomond’s cornerstone brand within this new region of operation, comes just weeks after the estate agency giant announced that it would be venturing into the London property market for the first time.
Miles & Barr is a well-known business within the Kent property market, having launched 25 years ago.
The firm operates from 12 branches across 13 towns in Kent and is among the market leading agents in its operating area.
This comes just a few months following Lomond’s acquisition of Winchester-based agency, Charters, and the London-based agency Chase Evans, and with this deal now expands the firm’s presence to Kent, a strong PRS market that it has earmarked as a key area of operation in meeting its aggressive strategic growth ambitions.
The latest acquisition of Miles & Barr includes 2,400 properties under management, as well as the residential sales, commercial, land and new homes aspects of the business, another area that Lomond has turned increasing focus to above and beyond the core lettings and sales sectors.
The CEO of Miles & Barr, Mark Brooks, commented: “We’ve always operated Miles & Barr with a people first approach, whether that be our employees or clients. We truly believe that our people are our most valuable asset, which is an approach that has yielded 25 years of incredible success.
“So, It was essential for us that any deal to be done had to be with an organisation that shares the same company culture and approach to business and it was clear that there was an immediate synergy between Miles & Barr and Lomond businesses in this respect.
“We’re delighted at the huge opportunity that now awaits us in continuing our growth journey and with the support of Lomond, it really is the start of a new chapter for Miles & Barr.”
Lomond’s CEO, Ed Phillips, commented: “We’ve set our sights on a number of new regions so far this year and this has all been part of our growth strategy, as we look to further establish Lomond and its brands as the leading estate and lettings agency business in the country.
“However, we don’t mark out these new territories without careful consideration and this starts with identifying the very best business in the region to lead the charge as our cornerstone brand. The significant opportunity across a number of key towns in Kent is evident and with Miles & Barr, there’s no doubt in my mind that we’re putting our best foot forward as the shared values and cultures of both businesses are clear to see.”