Lomond sets sights on distressed assets
The Edinburgh-based company, which was set up in 2010 as an acquisition vehicle specialising in real estate, says residential property is gaining popularity again and offering yields of up to 8 per cent a year. It says prices have become less volatile than other property investment classes, while average rents in Scotland have risen steadily since 2009.
Lomond chief executive Stuart Pender said: “Private investors have limited options at the moment with cash yielding such low returns, so this is an opportunity for individuals to see capital growth on a consistent basis.”
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Hide AdThe company plans to take advantage of the increasing number of banks and other financial institutions looking to offload distressed property portfolios and will convert commercial properties into residential buy-to-let units.
It will also bulk buy unsold empty units from construction companies at a discount and strike deals to build units specifically for the buy-to-let market. Lomond will furnish, let and manage the properties on behalf of investors.
Pender said: “This is the latest step in our plan to bring real value to our clients from the Scottish property sector. We are consolidating the lettings market through major acquisitions and our asset management offering broadens our scope still further.”