For sale! Lloyds-backed estate agents Lomond goes on the market


An estate agency group backed by the private equity arm of Lloyds Banking Group is being put up for sale in the latest sign of corporate activity in the sector.

Sky News understands that LDC has hired bankers from Clearwater International to oversee a sale of Lomond Group.

A process is expected to kick off in the coming months, and should value Lomond at well over £100m, according to industry sources.

Lomond Group was created from the merger of Lomond Capital and Linley & Simpson in 2021, a deal which established a business with 22,000 properties under management.

The company has a particularly prominent presence in cities such as Aberdeen, Birmingham, and Leeds.

It trades under brands such as Thornley Groves, Braemore and John Shepherd.

The prospective auction comes as speculation grows about a potential bid for Foxtons, the London-listed estate agent.

More from UK

Foxtons was recently reported to have added bankers at Rothschild as financial advisers in anticipation of a bid.

A number of other chains are also expected to change hands in the coming months.

A spokesman for LDC declined to comment.

Articles You May Like

‘What is happening in Gaza is not genocide’, says Biden after arrest warrant request for Netanyahu
Oil prices fall for fourth session ahead of busy Memorial Day travel weekend
Green, LIV’s Bland tied for Senior PGA lead
Possible compensation payments for Infected blood scandal victims published
Pulling a fast one? Nearly 90% of beer served in UK pubs and bars is short-measured – study finds