Lomond has completed an acquisition in the Thames Valley, entering the region with the purchase of Prospect, an independent lettings and estate agency operating across Berkshire, Surrey and Hampshire.
Prospect was founded more than 35 years ago by directors Colin Wells and James May and has grown from a single branch in Bracknell to a network of 10 branches managing over 3,500 properties.
The business, which is headquartered in a recently refurbished 5,500 sq ft office in central Reading, will join Lomond’s portfolio of 12 brands, extending the group’s presence across the Home Counties.
“Prospect’s strong brand heritage, loyal customer base and exceptional people perfectly align with Lomond’s core values,” said Rob Mott, Chief Revenue Officer at Lomond. “I’ve admired Prospect for some time, and this partnership presents an exciting opportunity to deepen our presence around London and the South East. I’m delighted to welcome Prospect’s talented team and valued clients to Lomond.”
Colin Wells, founder and CEO of Prospect, commented: “Prospect was founded on principles that remain at the heart of our business 35 years later — integrity, excellence and putting people first. When considering a partner for the next stage of our journey, alignment in values was paramount. Lomond shares that ethos completely, and I’m confident this partnership will enable Prospect to thrive while preserving what makes us unique.”
Ed Phillips, group chief executive of Lomond, added: “We’ve been looking to identify the right business in this region for some time, knowing how strategically important the area is to our continued expansion. Prospect is a standout fit – a business with deep local roots, an exceptional reputation and a culture that reflects our own commitment to people, service and performance.
“Their addition as a new hub for Lomond establishes our presence in one of the UK’s most dynamic markets, and we’re excited to support Prospect’s next chapter while building on the strong foundations that Colin and his team have created.”
Makes you wonder if Lomond-Lloyd’s backed are buying these other agencies to operate management for all the returned keys/repos happen.
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Well, this partnership certainly feels… inevitable.
When a company proudly sporting a 1.8-star Google rating decides to join forces with Prospect — a firm whose reputation has raised eyebrows across the industry for years — it’s hard not to admire the symmetry. Truly a match made in… well, whatever the opposite of “customer satisfaction” is.
Let’s hope that together they can at least aim for a combined rating that reaches the dizzying heights of “adequate.”
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That’s been expected for a long time, I’m surprised it’s taken so long to sell up as Prospect’s felt a bit rudderless for a while
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