One of Liverpool’s best-known residential lettings and estate agencies, City Residential, is acquired by £116m-turnover London outfit Lomond – the second Liverpool agency it has bought this year. Tony McDonough reports

London property firm Lomond has acquired one of Liverpool’s best-known residential lettings and estate agencies, City Residential, founded by Alan Bevan.

Alan, who founded the business in 2001, will remain with the Victoria Street-based agency for the time being on a consultancy basis. He said he was “delighted” to be passing on the business to Lomond. The value of the deal was not disclosed.

Lomond is the trading name of Chianti Holdings. With an annual turnover of more than £116m, the business operates more than 200 branches across the UK, with 2,500 employees and 70,000 properties under management.

In March this year Lomond acquired another Liverpool lettings and estate agency, Homesure. It operates from three city locations with a 30-strong team managing more than 1,700 properties across Liverpool and its surrounding areas.

Employing around 18 people, City Residential has grown to become the dominant player in Liverpool city centre’s residential sales and lettings market. Its current focus for lettings includes One Park West, The Unity Building, Mann Island, West Tower and Alexandra Tower on the waterfront.

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Alan is a highly respected and well regarded figure on the Liverpool property scene. For several years he has been writing a quarterly blog which provides deep-dive analysis on the city centre residential market.

He said: “Over the past 25 years, our growth has been driven by our dedication to our clients and our deep knowledge of Liverpool city centre.

“We are delighted to be passing the business on to Lomond – a company that shares our values, with the same commitment to client care, attention to detail and pride in what they do.”

Lomond says Homesure will take over the management of the City Residential portfolio. David Alexander, chief revenue officer at Lomond, added: “We’re delighted to welcome City Residential into our growing network.

“its reputation and quality make it a perfect fit, with real synergy alongside Homesure’s strength outside the city centre.

“We are continuing our expansion across Liverpool and beyond and we’re always looking for market leading agents who are eager to grow, innovate and be part of our ambitious plans.”