The fast-expanding Lomond Group, which last year acquired a staggering 24 estate and letting agencies as part of its ambitious growth strategy, has significantly strengthened its presence in the Midlands.

Its John Shepherd brand, which operates throughout the Midlands, has purchased the 550-unit lettings arm of Solihull-based Smart Homes.

The deal – John Shepherd’s third in as many months – has propelled the rental portfolio across its five-branch network past the 3,000 milestone.

Staff from the former Smart Homes Lettings team have already transferred to John Shepherd. 

Smart Homes will now focus exclusively on its residential sales service, as well as its new homes, land and commercial departments, under the leadership of its founder Jamie Smart.

Richard Crathorne, chief executive of John Shepherd, said: “Amid the ongoing challenges of the pandemic, we are thrilled to kick-start 2022 on such a positive note, and carry over our acquisitions momentum into the New Year.

“We share the same footprint at Smart Homes Lettings so this injection of new properties has dovetailed seamlessly into our existing High Street branches, with the majority being managed by our Shirley and Solihull teams.

“We also inherit new staff brimming with the same local knowledge, industry insight, and high customer service standards on which we pride ourselves. As an agency proud of our 30-year Midlands roots, we look forward to drawing upon this home-grown talent.

“Thanks to a tremendous team effort from all our people, 2021 was a year of record growth for John Shepherd. Our New Year resolution is to use this platform to scale up further and we are already in discussions with a number of acquisition prospects.”

He added: “We all wish Jamie Smart and his Smart Homes team every success as they move forward and concentrate on their sales specialism and other services.”

John Shepherd, which operates branches in Birmingham, Solihull, Shirley, Harborne, Sutton Coldfieldand Cannock, became part of the Lomond Group at end of 2020 when Lomond Capital and Linley & Simpson joined forces to co-create a new national lettings and sales business. It had been a key strand of Lomond Capital’s business since 2014.

The group now has a combined portfolio of over 30,000 properties under management, and major hubs in private rental hotspots including Aberdeen, Birmingham, Brighton, Edinburgh, Glasgow, Hull, Leeds, Manchester, Sheffield and York.

It has brought together some of the strongest letting and estate agency names on the UK High Street, including Linley & Simpson, Thornley Groves, Brand Vaughan, Michael Jones & Company, and John Shepherd in England; plus Stonehouse, Braemore, Fineholm and the recently-acquired DJ Alexander in Scotland.

The Lomond Group, which has the backing of leading private equity firm LDC, with access to further acquisition investment provided by LGT Capital Partners, recently entered talks to buy 216 year-old estate agent Chestertons.

Property group in exclusive negotiations to acquire Chestertons