The highly acquisitive Lomond Capital is poised to make further purchases of estate and letting agents – this time in London and the south-east.

Since its formation in 2010 it has made 32 acquisitions – starting in Scotland and working its way down south through England.

It is something of a ‘best kept’ secret in the residential agency sector, as it does not trade on the high street under its own name.

Its business model is to acquire independents which continue to trade under their own names, and then consolidate local markets by purchasing nearby competitors.

Lomond has a war chest of £37.5m for acquisitions and says it is in the latter stages of negotiations to enter the London lettings and sales markets for the first time.

It also has deals in the pipeline across the south.

The company – which has so far expressed no interest in online and hybrid models – aims to have over £4bn worth of properties under management by the end of next year.

Lomond has also announced a management restructure as it prepares for its new round of acquisitions.

Bruce Evans becomes chief executive while current chief executive and founder Stuart Pender becomes executive chairman.

Peter Flockhart, who joins from the Bank of Scotland where he led the bank’s strategy for the house building sector across the UK, becomes chief finance officer.

Pender said: “This restructure marks an important moment in our strategy.

“We are preparing for a major push into new markets, including London, which could dramatically change the value of our portfolio.

“We are targeting to sell over £1bn worth of properties next year in addition to building our portfolio to over £4bn.”