Expansion for Lomond group
Stonehouse adds leasing business to portfolio
An Aberdeen residential leasing company, Stonehouse Lettings, part of the Lomond Capital group, has acquired the residential leasing business of legal firm Raeburn Christie Clark & Wallace.
The deal adds 300 properties with an asset value of approximately £45 million to the Stonehouse portfolio, bringing the total number of properties it manages locally to 2,300.
It is Stonehouse’s seventh acquisition since merging with Simpson Brebner in 2013, during which time it has more than doubled the number of properties under management in Aberdeenshire.
Lomond Capital, established in 2010 by Stuart Pender and Roger Lane-Smith, now has assets worth £500 million under management in the region.
The acquisition sees Stonehouse increasing activity through its offices in Aberdeen city centre as well as in Kemnay and Ellon. Nine RCCW leasing employees have joined the Stonehouse team, bringing the size of the team to more than 50.
Lisa Brebner, managing director of Stonehouse, said: “We have admired RCCW and its residential leasing business for some time and I am delighted to now be welcoming the leasing team to Stonehouse.”
Keith Allan, Managing Partner at RCCW, added: “Stonehouse was the best choice to take the former RCCW leasing business forward and continue its growth.”