Belvoir to commence Sales Pilot

RNS Number : 2606N

Belvoir Lettings PLC

05 September 2013

 



For Immediate Release

5 September 2013

BELVOIR LETTINGS PLC

(the "Company" or "Belvoir")

Belvoir to commence Sales Pilot

Belvoir Lettings PLC (AIM: BLV), one of the UK's largest lettings franchises, is pleased to announce the launch of a new estate agency sales pilot.

The trial of residential property sales, which is starting this week and will run for 12 months, initially includes ten offices from a cross-section of Belvoir outlets across England, Scotland, Wales and Northern Ireland. These offices will run an estate agency offering alongside their original lettings businesses.

The sales pilot will not only create organic growth prospects with cross selling opportunities for Franchisees but will provide new acquisition opportunities for sales and lettings businesses. Belvoir intends to continue to assist franchise owners to acquire their competitors at the same time as developing the network of company owned outlets.

The Belvoir network is now at 155 outlets UK wide and the trial is another example of Belvoir's strategy to seek new opportunities to increase market presence through the number of franchised and corporate outlets owned.

Dorian Gonsalves, Chief Executive Officer of Belvoir Lettings PLC commented:

"Most sales agents have a lettings business as a bolt-on service to their primary business but Belvoir will operate the other way round - as a lettings specialist that also offers a property sales service.

Initially we anticipate that the majority of new vendors will be existing landlords and this new initiative will provide a strong addition to the high levels of service the Group already offers to landlords as well as a supplementary revenue stream for Belvoir.

The sales pilot is a very exciting new initiative for Belvoir and we look forward to reporting further developments as the trial gets underway."

For further details:

Belvoir Lettings PLC Mike Goddard, Chairman Dorian Gonsalves, Chief Executive Officer Carl Chadwick, Finance Director	01476 584900
Cantor Fitzgerald Europe Rick Thompson or David Foreman, Corporate Finance David Banks or Jeremy Stephenson, Corporate Broking	0207 894 7000
Buchanan Charles Ryland, Gabriella Clinkard www.buchanan.uk.com	0207 466 5000

 

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