DJ Alexander buys Sandstone Property Management Ltd in UK deal

Scottish estate and letting agency DJ Alexander has made a significant move in the property management sector by acquiring Sandstone UK Property Management Solutions Ltd, also known as Sandstone Management.

As part of the Lomond group, DJ Alexander has been at the forefront of the property industry, having acquired nearly 60 property businesses in the past three years. With their annual estate and lettings agency revenue surpassing £100 million and the number of properties under management reaching over 45,000, DJ Alexander is positioning itself as a key player in the market.

The recent acquisition of Sandstone adds around 2,000 properties to DJ Alexander’s already impressive portfolio. Sandstone, formerly known as Grant Property, was established by Peter Grant in 1989.

David Alexander, the CEO of DJ Alexander, expressed his enthusiasm for this latest transaction, highlighting its significance in the expansion of their operations in Scotland. He stated, “Adding these 2,000 properties to our management portfolio propels us to a market-leading position in Scotland, but our journey doesn’t end here. We are actively seeking further opportunities to grow and enhance the professional standards in the sales and lettings sector.”

Ed Phillips, the CEO of Lomond, echoed Alexander’s sentiments by emphasizing the strategic approach the group is taking towards becoming the leading property agency business in the UK. He stated, “Our continuous growth demonstrates our commitment to becoming the foremost player in the industry, and we have the resources and expertise to achieve this goal at a rapid pace.”

Peter Grant, the CEO of Sandstone, shared his reflections on the acquisition, saying, “After building Sandstone into one of the region’s most reputable residential property management agencies over the past 25 years, I believe it is time for a new chapter. I am confident that DJ Alexander and Lomond will take Sandstone to new heights, and I am excited to witness its continued evolution under their leadership.”

This acquisition marks a significant milestone for DJ Alexander and Lomond as they solidify their position as key players in the property management sector. With a clear focus on growth and professionalization, the future looks promising for both companies as they strive to redefine standards in the industry.