Belvoir brand wins Lettings Franchise of the Year

RNS Number : 1997B

Belvoir Lettings PLC

15 June 2016

 

For Immediate Release                                                                                                                                      15 June 2015

BELVOIR LETTINGS PLC

(the "Group" or "Belvoir") 

Belvoir brand wins Lettings Franchise of the Year award

Belvoir Lettings plc (AIM:BLV), the UK's largest property franchise group, is delighted to announce that one of the Group's brands, Belvoir, has won the Gold award for "Lettings Franchise of the Year" for the sixth time since the awards began seven years ago.

Over the past year the Group has embarked on a multi-brand strategy, acquiring midlands based franchises Newton Fallowell and Goodchilds in 2015, and more recently in June 2016, national brand Northwood. These acquisitions have now positioned the Group as the largest property franchise group in the UK with a total of 301 outlets and 54,000 managed properties.

The Lettings Agency of the Year Awards in association with The Sunday Times & The Times, sponsored by Zoopla, is held in June. It is the longest running event solely focused on lettings, at which the most sought after awards for the industry are presented.

The judging of the Lettings Agent of the Year Awards is chaired by The Property Ombudsman and has the backing of ARLA and NFOPP. Judges include highly experienced property professionals such as leading agents together with other industry experts and specialists.

The judges commented:

"Belvoir is a specialist lettings business which takes a progressive view when recruiting its franchisees as 95% of them don't have a background specific to the industry. From the outset, franchisees can be confident in the package of services they will receive from Head Office. The dedicated support team provides training, guidance and expertise - the initial induction is very thorough after which they are assigned a dedicated business development expert to help them navigate the first crucial months. This stringent approach has huge benefits as franchise owners can expect to build profitable long-term businesses: one owner sold his business for £1m in 2015, and other franchisees are achieving turnovers of over £1m as well. There is a clearly defined seven step plan for the cycle of a franchisee which sets out how Belvoir corporate will help owners to realise their potential. This ranges from the initial training to ongoing professional development, identification of potential acquisitions and finally an exit strategy."

Mike Goddard, Chairman and CEO commented:

"The past year has been one of considerable change for the Group and I am delighted that the Belvoir brand has won this award for another year running. We continue to focus on developing all of our brands, delivering exceptional customer care and helping our franchisees flourish, and we intend to leverage our expertise as a franchisor across the Group."

For further details:

Belvoir Lettings PLC Mike Goddard, Executive Chairman and CEO Louise George, Chief Financial Officer	01476 584900 [e-mail]
Cantor Fitzgerald Europe Rick Thompson, Phil Davies, Will Goode, Michael Reynolds Corporate Finance	0207 894 7000
Buchanan Charles Ryland, Victoria Watkins, Madeleine Seacombe	0207 466 5000

Note to Editors:

About Belvoir Lettings PLC

Founded in 1995, Belvoir is the UK's largest property franchise group, with 301 outlets nationwide.

Since listing on AIM in February 2012 (BLV.L), Belvoir has continued to diversify its core business offer in lettings by broadening into property sales. Operating from its Central Office in Grantham, Lincolnshire, the Group now offers a range of specialist services in property rental, property management, residential lettings, buy to let and property sales.

Belvoir's core revenue is derived from Management Service Fees (MSF); a reliable recurring revenue model which allows the Group to offer franchisees significant support and advice.

In 2015 Belvoir launched its multi-brand franchising strategy; acquiring Newton Fallowell Ltd, an East Midlands-based network of 31 outlets in July 2015 and Goodchilds Estate Agents and Lettings Limited, a West Midlands-based network of 14 outlets in October 2015. In June 2016 Belvoir acquired Northwood, a network of 86 residential lettings and property sales agents operating across the UK, making Belvoir the largest property franchise group in the UK.

Belvoir continues to grow organically by delivering award winning service, prioritising franchisee recruitment and supporting franchisee acquisitions. In recognition, Belvoir was awarded the "Best Lettings Agency Franchise Award" at the 2016 Agency of the Year Awards for the sixth time since the awards started seven years ago.

The Company remains committed to diversifying its brand portfolio, utilising The Group's strong franchising expertise and infrastructure, in order to capitalise on a consolidating market.

 

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