Lomond Capital has acquired a major Birmingham residential letting portfolio from national property services business SDL Group.
SDL Property Management has decided to dispose of the stock as part of is wider business strategy, with the firm now focusing on large scale institutional landlords particularly in the build-to-rent sector.
“This Birmingham-based residential lettings portfolio is a great fit for John Shepherd Lettings, Lomond Capital’s local lettings agency, and the sale creates a larger rental management business in the city, ready to serve the region’s landlords and property investors,” said Rob Clifford, group commercial director at SDL.
Clifford described the new deal as a “very positive move” as the company focuses its strategy to “revolutionise the experience of tenants” through large scale PRS projects.
He added: “This is a key component of our work to innovate across the property industry, which has also seen the launch of SDL Property Partners and SDL Auction Partners in the past 12 months.”