John Shepherd acquires Paul Carr's entire rental portfolio
John Shepherd is delighted to announce the acquisition of Paul Carr's entire rental portfolio, further strengthening our market presence across the Midlands.
Around 1,000 properties spanning North Birmingham and South Staffordshire will transfer to John Shepherd, propelling the total number of homes under our management to 5,500.
Paul Carr’s existing letting office headquarters in Four Oaks, Sutton Coldfield, will be retained - increasing our Midlands branch network to seven. The 20-strong lettings team from Paul Carr will also be integrated into the business.
The deal comes just a fortnight after John Shepherd launched a dedicated office in Nottingham for the first time, after the acquisition of Royston & Lund lettings portfolio which acted as a springboard to extend our reach across the East Midlands counties of Nottinghamshire, Derbyshire and Leicestershire - adding another 600 properties under our management.
John Shepherd CEO, Richard Crathorne, said: “To acquire a portfolio and team of people of this calibre is a major leap forward for John Shepherd, growing our number of clients and properties under management.
“The deal is an ideal geographical and strategic fit - both Paul Carr and John Shepherd have our roots embedded in the Sutton Coldfield area, having opened my first office in Sutton Coldfield in 1998. The West Midlands and now the East Midlands is at the centre of our community. Between Paul Carr and myself we have been helping people move home for over 70 years.
“Paul Carr is a respected sector stablemate whose rental portfolio is rich in quality and quantity. Its lettings arm has been a long-standing target for us, as we continue to leverage our operations across the Midlands.
“The former Paul Carr lettings base and team of people talent we have inherited will continue to play a key role in meeting the needs of our new clients. The office will also work in close partnership with the existing John Shepherd branch in Sutton Coldfield.
“John Shepherd and the wider Lomond group are looking forward to another year of success in 2024, as we step up our search for potential acquisitions, launch a series of initiatives to take customer service levels to new heights, and further develop our pool of people talent as part of our ambitions to be a great place to work.”
Lomond CEO Ed Phillips is also delighted with the acquisition: “We are thrilled to have struck this transformational deal - our biggest in the Midlands. It cements John Shepherd’s standing as the market-leading brand in the Midlands, as well as firmly establishing it as the region’s biggest lettings specialists.
“This strategic deal is another clear signal of our ambitions to expand further at pace and scale across the UK. Our acquisitions pipeline will continue to see Lomond launching in new target areas as well as strengthening our presence in existing prime locations.”