Lomond Capital moves into suburbs with its sixth takeover in 12 months

PROPERTY investment firm Lomond Capital is expanding in Aberdeen’s super-charged housing market by snapping up Yvonne Moir Property Services.

Yvonne Moir, who set up her business in Kemnay in Aberdeenshire in 2003, will remain with the firm, which owns the Simpson Brebner and Stonehouse brands in Aberdeen.

Lomond remained tight-lipped last night over how much it had paid for the firm, the fifth that it has bought in the area and its sixth across the UK in the past 12 months. Moir is listed at Companies House as her business’s sole shareholder.

Taking over Moir’s 300 properties will increase Lomond’s total in the region to 1,800.

Ross Murray, finance director at Lomond in Aberdeen, said: “The market is crowded in the city centre so being able to offer tenants out-of-town and suburban properties, as well as bringing new landlords into our stable, is a welcome addition. The Aberdeen property market is booming – there isn’t enough rental property to go around.”

Edinburgh-based Lomond was launched in 2010 by City grandee Roger Lane-Smith to consolidate the property market with a £45 million war chest.

Initially the firm focused on lettings and factoring but has recently moved into the estate agency market in Manchester.

Lomond – which has so far bought 15 companies – last month refinanced part of its war chest with Investec Bank.