News
DJ Alexander acquires Sandstone UK Property Management Solutions
Scottish estate and lettings agency DJ Alexander has acquired Sandstone UK Property Management Solutions Ltd, trading as Sandstone Management.
DJ Alexander is the Scottish arm of Lomond, which has bought around 60 property businesses in three years, with total estate agency and lettings revenues now exceeding £100m a year and the number of properties under management now exceeding 45,000.
The purchase of Sandstone adds nearly 2,000 properties under management to DJ Alexander’s portfolio. Sandstone was formerly known as Grant Property, founded by Peter Grant in 1989.
David AlexandreCEO of DJ Alexander, said: “As we approach 60 acquisitions as a group, this latest transaction is close to my heart as it complements our expansion in Scotland in particular. Adding around 2000 properties under management sets us up to become a market leader north of the border – and we’re not done yet.
“We are on a mission and have a strong appetite for new transactions and will always be on the lookout for high-quality deals as we look to further expand and professionalise the sales and leasing sector in the future.”
Ed PhillipsLomond CEO added: “I am delighted to welcome the Sandstone teams as the latest addition to the Lomond family. As you can see from our relentless activity, we are determined to grow to become the definitive leader in UK estate agency business and the largest acquirer.
“We have the resources and team to deliver this at pace and no one else in the UK property sector matches our ambition or capability.”
Peter ConcessionSandstone CEO commented: “After 25 years of building one of the largest and most respected residential property management agencies in the region, it is time to move on to something else.
“I’m proud of what we’ve built and know we’ve handed it over to DJ Alexander and the team at Lomond in good shape for the next stage of Sandstone’s journey. It’s in great hands and I look forward to seeing the business I loved evolve and grow even further under its new ownership.”