Lomond Capital has increased its portfolio in Edinburgh with the acquisition of the lettings division of Charles White, Edinburgh’s longest established lettings agent.
Charles White has managed residential property in the Edinburgh area since 1840.
The lettings division will now be called Charles White Lettings and the company’s block management division will continue to trade as Charles White.
Some 12 staff will transfer to Lomond and the business will remain at its office at Morningside Road, Edinburgh. Caroline Elgar, head of lettings at Charles White, will continue to run the lettings team.
The acquisition of Charles White Lettings will add 700 properties to Lomond Capital’s portfolio, bringing the total number of properties it has under management to 2,500 in Edinburgh and 3,400 across Scotland.
Stuart Pender, chief executive at Lomond Capital said: “With our expansion into Aberdeen, our plan to consolidate the UK lettings market is well under way and we are now looking towards deals in Glasgow and beyond Scotland, in Birmingham and Manchester.”
Edwin Backler, managing director at Charles White, said: “We are keen to continue developing the block management division of the business both here in Scotland and in Northern Ireland, and by working with Lomond Capital we can ensure that the lettings business continues to grow in the hands of a lettings specialist.”
annabel.dixon@estatesgazette.com
