Lomond Group has completed the acquisition of Centrick’s high street sales and lettings business.

Lomond’s decision to strengthen its foothold in one of its fast-growing heartlands marks the firm’s 50th acquisition since launching just three years ago.

Centrick’s three high street estate and lettings agency branches in Solihull and Nottingham will now operate under Lomond’s John Shepherd brand, resulting in the transfer of 25 staff in Nottingham, Solihull and Birmingham to the purchaser.

The deal also sees a rental portfolio of 1,300 homes and a strong sales pipeline transfer to John Shepherd.

The Birmingham high street estate and lettings agency team, one of the biggest agency operations in the city, will move from Centrick’s Birmingham HQ in the city to John Shepherd’s established high street operation just a few doors away on Colmore Row.

Lomond CEO Ed Phillips said: “This strategic acquisition further consolidates our position as an ever-expanding and major player in the UK property industry.

“Delivering 50 acquisitions in just three years has been a real team effort that is unparalleled in our sector – it represents one deal every three weeks, and has grown our lettings portfolio to around 43,000.

“It’s a milestone of which the whole Lomond family can be proud, and I’d like to thank and pay tribute to all our talented people who have helped us reach it in such a smooth and successful way.”

He added: “With other acquisitions in the pipeline, and new opportunities being actively explored, we look forward to accelerating our growth journey throughout 2024.

“We know that this can be best achieved by recruiting, retaining and rewarding a best-in-class team of people and 2024 will also be hallmarked by the development of more initiatives to develop their skillsets and potential, and build on our accreditation of being A Great Place To Work.”

Richard Crathorne, CEO of John Shepherd, said this acquisition had propelled its lettings portfolio across the West and East Midlands past 7,000 managed units.

He commented: “This deal represents the perfect geographical and strategic fit, as the footprint of the Centrick’s high street portfolio mirrors our own, covering all the bullseye locations across the West and East Midlands.

“As part of this acquisition, we’ll also be welcoming senior members from Centrick’s award-winning high street agencies to our business to ensure continuity of service to our new customers.

“They include their three branch managers – Mike Nabarro from Birmingham, Callum Rowlands from Nottingham, and Gary Sammons from Solihull – along with the agency lettings leadership team of Afreen Iqbal and Stuart MacDiarmid.

“We are delighted to welcome them, and their talented colleagues, to our John Shepherd family – a brand with strong local roots that has been at the forefront of the residential property marketplace in the Midlands for more than 30 years.

“The acquisition of Centrick’s high-quality property collection, as well as its first-class team of people, equips us with a strong platform on which to accelerate our growth, both in size and in reach, across this in-demand region.”

Following the deal, Centrick will continue to expand its PRS Lettings & BTR Asset Management operation and Building & Estate Management services from its HQ in central Birmingham, together with its new homes and offshore investment sales arms.