Lomond has acquired the lettings arm of Aberdein Considine in a deal that involves hundreds of homes across the north-east.
The acquisition, for an undisclosed sum, brings 1,700 residential lets currently under management with Aberdein Considine across Aberdeen, Aberdeenshire and the central belt.
However, the estate agency, legal services, mortgage advice and wealth will remain fully independent.
The properties in question will now fall under Lomond’s Scotland brand, DJ Alexander, boosting its portfolio to a total to more than 11,000 properties under management across Scotland.
Acquisition a ‘perfect fit’
DJ Alexander has offices in Aberdeen, Kemnay, Peterhead, Edinburgh, Glasgow and St Andrews.
Lomond’s Scotland chief executive, David Alexander, said: “Aberdein Considine is an incredibly well established and well respected company with years of experience within the Scottish property market.
“So whilst this latest acquisition is an asset based one, it was still important that the company in question share the same vision and pedigree as the Lomond brand, as these values will have naturally filtered through to the quality of their lettings portfolio.
“In this respect, it’s a perfect fit, and the properties under management that Lomond will acquire not only help to boost our presence within the Scottish market considerably, but also fit perfectly with our existing footprint in the country, as we continue to look for opportunities for further expansion.”
DJ Alexander growing north-east presence
The original Lomond business, Lomond Capital, was forged north of the border in 2010 before merging with Linley and Simpson in December 2020 to form the current Lomond business.
The acquisition in question is the firm’s 63rd and follows the acquisition of Chase Evans in recent weeks, which saw Lomond enter into the London market for the first time.
DJ Alexander opened its Peterhead office in October last year to serve an anticipated upsurge in rental demand in the coming year.
The firm said the decision to open a new office on Rose Street is in anticipation of an influx of people to the area.
The Acorn project will create carbon capture hubs and are part of a £1 billion Westminster government investment.
It will create an estimated 21,000 jobs by 2030 and sits three miles outside of the town.
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