Press release: Lomond consolidates Scottish heartlands footprint with major lettings acquisition

8th Mar 2024
Ed Phillips

LOMOND has further strengthened its market-leading presence in Scotland by sealing another major acquisition.

It has bought Tay Letting and its rental portfolio of 3,000 properties spanning a trio of key territories – Glasgow, Edinburgh and Dundee.

The homes will be managed by Lomond’s flagship brand in Scotland, DJ Alexander, and will transfer seamlessly into its established branches in Glasgow, Edinburgh and St Andrews.

Lomond – who acquired the entire Scottish lettings portfolio of Purplebricks last May – has now completed four strategic deals in Scotland in just nine months. 

This latest acquisition grows DJ Alexander’s lettings portfolio in Scotland to over 10,000 properties while the total number of units under management of Lomond’s expanding UK network of High Street brands stands at 42,500.

Lomond’s CEO, Ed Phillips, said: “Tay Letting is one of Scotland’s premier letting and property management specialists and we are thrilled to bolster our presence in three key heartlands with a portfolio of this size and calibre.

“The properties share the same footprint as our existing network of offices so represent the ideal geographical and strategic fit.

“This investment not only demonstrates our commitment to expanding further in key areas across Scotland, but serves as a vote of confidence in the continuing strength of the Scottish rental market.

“To secure an acquisition of this scale has been a great team effort and I’d like to thank everyone in Lomond who contributed to the successful completion of this deal, and helped the onboarding process for landlords and tenants go smoothly.”

Lomond’s CEO in Scotland, David Alexander, said: “The DJ Alexander team looks forward to bringing our high-quality, personalised service and innovative approaches to a brand new group of clients.

“They will benefit from the unrivalled local knowledge and market insights that you would expect from a company that has been crowned as a Great Place to Work.

“We are determined to add further pace and scale to our growth journey in Scotland and are already exploring new acquisition opportunities.”

Tay Letting was founded by Director Marc Taylor in 2009. He said:  “We are delighted to hand over the firm to Lomond to operate under the DJ Alexander brand which has an excellent reputation in the market, and I am confident our landlords and tenants are in safe hands.”