Agent John Shepherd Lettings is set to see a boost to its property stock after its acquisitive parent company Lomond Capital purchased a Birmingham-based residential lettings portfolio from SDL Group.

Lomond Capital, which has gobbled up estate and letting agencies from Aberdeen down to Brighton, has agreed the deal with property services company SDL Group to purchase the portfolio for an undisclosed sum.

The portfolio will be transferred to Lomond Capital brand John Shepherd Lettings.

The deal means SDL Property Management now focuses on large scale institutional landlords particularly in the build-to-rent sector.

Rob Clifford, group commercial director at SDL Group, said: “This Birmingham-based residential lettings portfolio is a great fit for John Shepherd Lettings, Lomond Capital’s local lettings agency, and the sale creates a larger rental management business in the city, ready to serve the region’s landlords and property investors.

“We are delighted that our customers will continue to receive the level of service we have been proud to provide throughout the lettings business’s long history in Birmingham.

“The deal is another very positive move as we focus on our strategy to revolutionise the experience of tenants through large scale PRS projects. This is a key component of our work to innovate across the property industry, which has also seen the launch of SDL Property Partners and SDL Auction Partners in the past 12 months.”

Bruce Evans, chief executive of Lomond Capital, added: “John Shepherd’s strength and depth mean it is already the number one lettings and estate agency brand in Birmingham. As such, we are seeing more opportunities come through our doors such as the high profile Princes Gate development which is due to be launched by John Shepherd New Homes.

“However, we are not resting on our laurels and are continuing to grow organically and through acquisitions such as this. We have a strong pipeline of further acquisitions across the country and would invite anyone looking to sell their property management business to reach out to our team.”