Network growth forecast doubles for next decade as five new franchise owners have joined the Belvoir network, with three new businesses set to launch and the successful resale of one of Belvoir’s top performing offices.
This latest announcement follows Belvoir’s recent acquisition of Goodchilds and Newton Fallowell, which has sparked considerable interest from potential franchise owners and resulted in a new forecast for network growth.
“We have seen the strongest level of interest from potential franchise owners across all three brands than has been noted for a number of years,” confirms Dorian Gonsalves, Belvoir’s Director of Commercial and Franchising.
“I am really pleased that this interest has now translated into the launch of new Belvoir offices in Biggleswade, Hampstead Heath and Welwyn Garden City. Belvoir Sheffield, which was one of our strongest performing offices recently sold for a million pounds and we wish Kevin Burnett, the new owner, every success, although this office will continue to be run by fellow franchise owner Sarah Powell, who has always been a driving force behind its phenomenal development. In addition, there are several other new Belvoir offices in the pipeline and another induction course for new franchise owners is due to commence in November.
“When Belvoir floated on the London Stock Exchange in 2012 we made a promise to our shareholders that we would achieve 200 offices before the end of 2016, but we already have 210 offices and are now looking to set a new target. I forecast that Belvoir will have 400 offices across the UK in the next ten years.
“I wish every success to Shalin and Minesh Patel who are opening Belvoir Biggleswade, Ritesh Kotecha who is opening Belvoir Hampstead Heath and also to Kenny Emagha who is opening Belvoir Welwyn Garden City. These franchise owners are all high quality individuals with the necessary drive and determination to succeed, but with the outstanding support that will be provided to them by our dedicated team at Central Office, I have high hopes that these new offices will quickly become the agency of choice for landlords and tenants in their area.
“This is a very exciting time for anyone who is considering a career in property management and I would encourage potential franchise owners to contact our recruitment team for an informal chat to discuss the many business opportunities that Belvoir is able to offer.”
Chairman Mike Goddard demonstrated his confidence in the future of Belvior last week when bought 40,000 shares at a price of 121.25 pence per share.
Following this transaction, Mr Goddard holds 7.8 million shares, which represents 26.68% of total issued share capital and voting rights.
Belvoir Lettings on Monday said it has struck a deal to acquire West Midlands-based property sales and lettings business Goodchilds for GBP3.3 million and raised GBP3.6 million via a share placing to help fund the acquisition.
Shares in the lettings agency company were up 2.3% at 123.80p last Tuesday.
Belvoir now has 210 offices nationwide. To find your nearest Belvoir office, visit their website at www.belvoir.co.uk. To enquire about the Belvoir franchise opportunity please visit www.belvoirfranchise.com
— LandlordZONE Press (@LandlordZONEPR) October 23, 2015