Lomond has acquired Ocean Property Services Group, adding 12 branches to its network and establishing a new regional hub in Bristol. The transaction strengthens the group’s presence in the South West property market.
Ocean Property Services Group has operated for more than 40 years, beginning with a single branch in Bishopston before expanding across Bristol and North Somerset. The business provides residential sales, lettings, conveyancing, property management and financial services across its 12-branch network.
Strategic expansion
The acquisition forms part of Lomond’s continued expansion across regional property markets. The deal establishes Bristol as a strategic hub for the group’s operations in the South West, providing a platform for further growth in the region.
Rob Mott, chief revenue officer at Lomond, said: “Ocean is a highly respected brand with a 40-year heritage, a loyal customer base and a reputation for excellence. We’ve long recognised Bristol as a critical market for our national growth plans, and we were committed to identifying a business with both scale and deep local roots.”
The acquisition comes as high street decline raises concerns for estate agencies across the UK, with consolidation activity increasing in the sector.
Leadership transition
Paul Harris, who founded Ocean 42 years ago, is stepping away from the business. Chris McLaughlin, director at Ocean, said: “Ocean has always been a Bristol business, built by local people with a passion for serving local communities. As we looked ahead to the next chapter, finding the right partner that shared those ambitions was essential.”
The transaction adds significant sales and lettings capacity to Lomond’s portfolio at a time when property transactions are taking longer to complete, with communication gaps between parties contributing to extended timelines.
The deal represents the latest in a series of acquisitions by Lomond as the group builds its presence across UK regional markets. Ocean will retain its brand identity while operating as Lomond’s Bristol hub for South West operations.
