Property group Lomond Capital has continued its expansion, snapping up agents and portfolios throughout England and Scotland.

Its latest purchase is that of the lettings business from Aberdeen and north-east Scotland law firm Raeburn Christie Clark & Wallace.

The portfolio has been added to that of Lomond Capital’s Stonehouse Lettings business. The 300 properties, worth around £45m, bring the total number of properties that Stonehouse manages to 2,300.

The deal takes Lomond’s assets under management to £500m – and the firm has made it clear that it remains firmly on the acquisition trial, planning further investments in London and the south of England.

The business was established just seven years ago, by Stuart Pender and Roger Lane-Smith, and now manages over £2.5bn worth of residential properties, and employs 365 members of staff. It has so far acquired businesses in Brighton, Birmingham, Manchester, Aberdeen, Birmingham and Edinburgh.

In April this year, Lomond secured £37.5m of capital funding from Clydesdale Bank and Tosca Debt Capital to extend into the south of England and London markets.

Typically, the businesses it first acquires in an area retain their own names and are then funded to acquire competitors, thus consolidating local markets.