Investec finance deal for Lomond

Lomond Capital, the fast-growing property investment outfit set up by City grandee Roger Lane-Smith, yesterday refinanced part of its 
£45 million acquisition war chest with Investec Bank. The deal comes just days after Lomond took its first step into the estate agency market by buying Manchester-based Thornley Groves.

Lomond already claims to be the largest letting agency in Aberdeen and Edinburgh, with more than 5,000 properties. The firm is set to push into Birmingham and Leeds.

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Stephen White, an associate at Investec, said: “We have been working with Lomond for over a year to ensure that we were able to tailor the most appropriate financing structure to support the company’s exciting expansion plans.”