Acquisitive property group Lomond Capital has purchased a Birmingham business, John Shepherd Estate Agents.

It has also announced that it is currently in negotiations to buy un-named estate agents and lettings businesses in Bristol, Brighton, Reading, Oxford and Cardiff.

Edinburgh-based Lomond began its giant acquisition spree in Scotland six years ago, but so far seems not to have been taken seriously by market watchers – something looking set to change.

It began by snapping up lettings businesses in Scotland’s major cities before heading over the border into England.

Last year, in an important move, Lomond appointed Ivor Dickinson, former CEO of of Douglas & Gordon in London, to lead its expansion in the south.

In Birmingham, Lomond had already bought John Shepherds Lettings.

The latest deal means John Shepherd Estate Agents merge with its old lettings business, and with Marwood Homes.

Lomond says the enlarged business in Birmingham will manage over £250m worth of properties for private landlords and sell over £200m of property each year.

Founder John Shepherd will retain what is described as a significant shareholding and join the board of the newly enlarged business.

Lomond said it will now acquire other ‘bolt on’ acquisitions across both lettings and estate agents in Birmingham.

Stuart Pender, chief executive of Lomond Capital, said: “Our aim is to build a full-service property management businesses in key UK markets.”

Lomond Capital was started in 2010 and currently has businesses in Aberdeen, Birmingham, Edinburgh and Manchester.

As well as now targeting the south of England, it says it will also make acquisitions in Wales.