Independent agent sells lettings book to Lomond-backed brand

A regional independent agent has shifted its focus to sales after offloading its lettings business to The Lomond Group.

Warwickshire and Worcestershire-based Jeremy McGinn & Co has sold its lettings company SecureLets to The Lomond Group-backed John Shepherd brand.

John Shepherd inherits a rental portfolio of 326 properties across large swathes of north Worcestershire and Warwickshire.

SecureLets was owned by Jeremy McGinn, which will now focus exclusively on residential sales through the estate agency business he launched in 2009, Jeremy McGinn & Co, and its three offices stretching along the border of both counties.

As part of the deal, John Shepherd will open a new office in Redditch after taking over the former premises of SecureLets, based in The Old Church on Ipsley Street. 

The office will be rebranded to John Shepherd over the coming weeks. Former staff from SecureLets will also transfer to John Shepherd. 

This is the second major Lomond deal within a fortnight to consolidate John Shepherd’s Midlands presence.

It previously benefited from the multi-regional acquisition of Property Hub Lets that saw 800 properties across Birmingham, Nottingham, Leeds, Manchester and Liverpool transfer into its portfolio.
 

Richard Crathorne, chief executive of John Shepherd, said: “We are thrilled to complement our business by acquiring another property portfolio that is high on quality and has a team of people to match.

“Their insight and knowledge of the area is a tremendous asset, and will ensure a smooth and seamless transfer for all clients.

“As a home-grown agency with strong Midlands roots, Redditch has long been an expansion target for us.

“To further extend our footprint, and have a dedicated presence in this bullseye location for the first time, brings an exciting new dimension to our network of branches.

“Another advantage is that it also allows us to transfer our properties in and around Redditch and Bromsgrove to our new Redditch office to give landlords and tenants a larger base to operate from.”

He added: “We all wish Jeremy and his team every success as they move forward and concentrate on their residential sales specialism and other services.”

The Lomond Group now has a combined portfolio of over 35,000 properties, worth around £8bn, under its management; and operates major hubs in private rental hotspots including Aberdeen, Birmingham, Brighton, Edinburgh, Glasgow, Hull, Leeds, Manchester, Sheffield and York.