A lettings agency in the growing Lomond Group has purchased a rental portfolio on the south coast.
Brand Vaughan has bought the lettings book of Palms Properties, the on-site letting agency in Brighton Marina.
It will retain Palms’ name, branding, team of staff and waterfront office as part of the agreement.
It will see some 250 properties managed by Palms transfer into the Brand Vaughan portfolio; some are holiday lets and others buy to let units.
Tom Ghibaldan, Brand Vaughan chief executive says: “This represents a bullseye acquisition for Brand Vaughan and adds an exciting dimension to our business. For 25 years, Palms has been the by-word for the very best in Brighton waterside living.
“Brighton Marina is brimming with rental potential for the ever-growing number of people lured by its lifestyle, and it is a major step forward to have a dedicated presence there for the first time – one of four branches we now operate.”
He adds: “This deal equips us with the best possible platform on which to build further at pace and scale, through both acquisition and organic growth. We are actively exploring other acquisition opportunities to expand our lettings footprint not just across our Brighton heartland, but also into neighbouring in-demand districts.”
Brand Vaughan – which merged with Cambridge Residential in 2015 – is part of the Lomond Group of residential letting and sales agencies across England and Scotland.
Palms marks Brand Vaughan’s fourth acquisition since joining Lomond. and now employs a team of more than 60 people. Lomond’s big news in recent weeks has been its merger with Linley & Simpson.
This post has originally been featured in Letting Agent Today.