3rd May 2018
Midlands-based national property services business SDL Group has announced the sale of a Birmingham residential lettings portfolio to Lomond Capital.
SDL Property Management now focuses on large scale institutional landlords particularly in the build-to-rent sector. This portfolio sale sees its Birmingham residential lettings and management services moving to join one of the foremost lettings agents in the West Midlands.
Rob Clifford, Group Commercial Director at SDL Group said: “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. We are delighted that our customers will continue to receive the level of service we have been proud to provide throughout the lettings business’s long history in Birmingham.
“Today’s deal is another very positive move as we focus on our strategy to revolutionise the experience of tenants through large scale PRS projects. 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.”
SDL also continues to build on its hugely successful auctions business, SDL Auctions, with the famous Villa Park auction at its heart, raising over £165m for SDL’s vendor clients in 2017.
This latest deal follows the Group’s £2m investment in a new central Birmingham base at Great Charles Street, home to over 150 employees, which is the hub of SDL Auctions Bigwood, and SDL Property Management, which manages over 30,000 units across the UK. SDL’s other key office locations include London, Nottingham, Fareham, Basildon and Stratford.