Hot on the heels of its acquisition of Kent-based agency, Miles and Barr, Lomond has made its 65th acquisition, a deal which further strengthens the firm’s existing presence within the student lettings space.
Lomond’s latest deal, brokered by Atomic Consultancy, sees it acquire Sugarhouse Properties, a Leeds-based lettings and property management company with 13 years of experience.
Sugarhouse Properties was founded in 2011 by Charles Aston and Richard Napier, both of whom boast years of experience operating within the rental market and, more specifically, within student lets and HMOs.
With their flagship office located on the Otley Road, Sugarhouse Properties is one of the largest independent student lettings agents in Leeds, with the firm having also branched out to provide lets to professional tenants in the last few years.
The firm currently manages 372 properties, including large numbers of HMOs within the Leeds area and places a strong emphasis on providing high quality and well managed accommodation – an approach that has seen the firm win multiple industry awards.
Lomond’s latest acquisition sees it significantly strengthen its foothold in the student lettings space, an area where the firm has already placed a great deal of focus.
Lomond’s CEO, Ed Phillips, said: “Sugarhouse Properties is an outstanding company and one that has formed a formidable reputation within the student lettings space over the last 13 years.
“The company’s culture is centred around delivering high quality accommodation, with management and customer service to match, so it was clear from the start that both Lomond and Sugarhouse shared a great deal of synergy and that combining forces would be beneficial for all involved.
“What’s more, they’ve gone against the grain with respect to traditional marketing methods, utilising online channels that resonate with their target audience and with the help of Lomond’s marketing assets, we look forward to helping supercharge these efforts.”
Director of Sugarhouse Properties, Richard Napier, said: “We’ve put a great deal of blood, sweat and tears into Sugarhouse Properties and we’re immensely proud of the outstanding business we’ve built and the reputation we’ve developed across the student lettings sector.
“However, we believe that now is the right time to allow the business to evolve and with the help of Lomond, we’re extremely excited about what the future holds.
“It’s clear that Lomond places a real emphasis on empowering the businesses they acquire and with the additional assets that this deal will provide Sugarhouse Properties, we can’t wait to see how the brand evolves going forward.”
Founder and CEO of Atomic Consultancy, Lucy Noonan, said: “Sugarhouse Properties is one of the best established operators within the students lettings space in Leeds and we’re delighted to have played a pivotal role in the evolution of the company via its acquisition by Lomond.
“Both companies are ideally aligned with respect to their company culture, the quality of the service they provide and their ambitions for future growth and we’re excited to see what the future holds now that the deal has completed.”
