Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property Industry Eye. Read the original article for full details.
Lomond Acquires FHP Living Lettings Arm in Nottingham
Fast-growing agency group Lomond has continued its acquisition drive with a deal in the Midlands, buying the residential lettings and property management arm of Nottingham agency FHP Living. The acquired business will transfer into John Shepherd, Lomond's main brand across the Midlands.
The deal expands John Shepherd's presence in Nottingham and West Bridgford, and adds a growing student lettings operation. The financial terms were not disclosed.
What the deal covers
The acquisition does not include FHP Living's residential sales and development consultancy, which will continue trading from its West Bridgford office under the leadership of Jules Hunt and Jason Cook.
Director Luke Pritchett will remain with the acquired lettings business following the deal.
Background on FHP Living
FHP Living was founded in 2000 by David Hargreaves, John Proctor and Brian Fisher. The business began as a residential development advisory firm in Nottingham's Lace Market and later expanded into sales, lettings and property management.
Quotes from those involved
Paul Clarke, chief revenue officer at Lomond, said FHP Living represents "exactly the kind of business we seek to bring on board – business-minded, locally trusted and client-focused". He said combining their local expertise with the scale of John Shepherd and the wider group would create a business "better equipped to support landlords through the sector's ongoing regulatory evolution".
David Hargreaves, founding director of FHP Living, said joining John Shepherd and Lomond gives clients and the team "access to the resources and opportunities of a larger group, while keeping the local presence and trust we've built over two decades".
Luke Pritchett added that, with John Shepherd and Lomond behind the business, "landlords will get an even stronger service as the market keeps changing".
Consolidation in the sector
The deal marks another expansion by Lomond as consolidation continues across the estate and letting agency sector. Nottingham remains a key market for the group's growth strategy.
For letting agents and inventory clerks in the region, the acquisition means further lettings portfolios moving under larger group brands, which may affect local market dynamics and landlord relationships in Nottingham and West Bridgford.
Source: Property Industry Eye