LNT GROUP ANNOUNCES SALE OF GLP TAYLORS TO JONES LANG LASALLE

In the final stage of a two-part divestment process, Leeds-based conglomerate LNT Group has sold GLP Taylors, which offers agency and consultancy services to clients in the long term care sector.

The company has been acquired by global real estate services firm, Jones Lang LaSalle. LNT Group Chairman Lawrence Tomlinson, decided to sell GLP Taylors on deciding that there was a potential conflict of interest within the group since its re-entry into care home operation with Ideal Care Homes. The new operator is experiencing rapid growth due to a £67m funding package which will see it have over 650 beds in operation by June 2010.

Lawrence Tomlinson commented: “I am delighted with the sale of the GLP Taylors care agency business to Jones Lang LaSalle – it represents a great opportunity for the team to join a global player in the commercial real estate industry. The LNT Group will continue to develop its core businesses.”

Through the acquisition of GLP Taylors, Jones Lang LaSalle will expand its presence in the UK healthcare real estate sector by the addition of a healthcare agency arm which complements its established valuation advisory team. It will operate through Jones Lang LaSalle’s nationwide network of offices in London, Birmingham, Manchester, Leeds, Edinburgh and Glasgow.

Philip Hall, Head of Jones Lang LaSalle's Healthcare team, added: “With a proven reputation across this niche sector of the commercial property market, the acquisition of GLP Taylors complements our existing healthcare advisory team and allows us to strengthen our client service through the addition of an established agency business.

Phil added: “It also extends our healthcare capability into our regional office network and means our clients will now benefit from a highly experienced team of healthcare experts covering both agency and valuation advisory services.”