Belvoir has announced the continuation of its expansion programme, with nine new offices opening across the country and several new franchise owners joining the group through re-sales.
Belvoir Lettings plc is a United Kingdom-based company engaged in selling, supporting and training residential lettings franchises. The Company operates in property lettings, estate agency and franchising offering sales, lettings and property management services across the United Kingdom.
Belvoir was founded in February 1995 by Mike and Stephanie Goddard as a specialist franchised lettings agent and within 20 years grew to over 160 outlets offering a highly professional service to both landlords and tenants. Its Central Office is in Grantham, Lincolnshire and is currently run by Chief Executive Officer Mike Goddard, and Managing Director Dorian Gonsalves. Dorian sits on the Board of The Property Ombudsman.
Following the initial stock market floatation the company’s share price rocketed to around £1.80 over a two year period, but has since fallen back to £1.18, now with an historical (TTM) PE of 19 and yielding 5.79%.
In 2014 Belvoir extended its property services to include property sales. 2015 saw the beginning of the Group’s multi-brand strategy with the acquisition of two franchised estate and lettings agency networks, Newton Fallowell in the East Midlands and Goodchilds in the West Midlands.
This introduced a further 45 outlets to the Group, increasing its market share and geographic coverage, now with a total of 212 outlets.
“The first half of 2016 has been extremely busy for our recruitment team,” says Dorian Gonsalves, Belvoir’s Managing Director.
“New Belvoir offices have already been launched in Reading, Ealing, Bournemouth, Hendon, Hampstead and Biggleswade and this month Kuljeet Aujla completed training ready to launch Belvoir Hull, whilst ex London cabbie Darren O’Reilly will be launching Belvoir Bromley and Nhidi Mehrota is launching Belvoir Sutton.
“Buying an existing Belvoir offices is another effective way of joining the network and Belvoir is committed to helping our franchise owners execute their exit strategy when they wish to do so. This year we have welcomed an extremely high caliber of new franchise owners who have completed on resales and they are all very driven and highly motivated to succeed.
“Our new franchise owners come from very different backgrounds and ages – for example Luck Marchbanks who has opened Belvoir Bournemouth is just 23 years of age, but extremely ambitious and already looking at further expansion of his business.
“Previous experience in property management is not necessary, as Belvoir provides first class training for new franchise owners, and our franchise support team works extremely hard to ensure that they succeed. Belvoir franchise owners now have the option to launch a sales service, as well as lettings, and this is proving to be very popular with vendors, including existing landlords who wish to expand their portfolio or sell an existing rental property.
“This is a very exciting time to be joining Belvoir. Last year the company celebrated 20 years of continuous growth and success and earlier this year we were included in a list compiled by the London Stock Exchange Group of the top 1000 “most inspirational” companies in Britain.
“As well as growing the network through new Belvoir offices, we are also focusing on our acquisition strategy and have a dedicated team that is constantly looking at new opportunities.
“I would like to congratulate all of our new franchise owners and wish them every success for the future.”
Belvoir still expanding… https://t.co/Y8gSuzuEuG
— LandlordZONE (@LandlordZONE) June 7, 2016