Belvoir Franchisees Portfolio Acquistions 2017 Targets Hit The Roof
Belvoir’s Assisted Acquisitions loan franchisees up to 30% to help them invest and grow their property portfolios.
The UK’s largest property franchise, Belvoir recently reported to investors its franchisees have exceeded their portfolio acquisitions targets for 2017. In 2017, franchisees effected 23 acquisitions, raising the annualised network revenues by over £3.3m, 10% above the £3m target set by Belvoir’s board. The acquisitions have added a steady influx of £350,000 in repeat management service fees which represents the group’s main revenue stream. The managed properties to the group’s portfolio has increased by 4%, with 2,264 added managed properties raising the group’s total to over 58,000.
Belvoir’s chief executive officer, Dorian Gonsalves says more deals are on the way: “The Assisted Acquisitions programme has proved to be very popular within the recently acquired Newton Fallowell and Northwood networks. In addition to exceeding our target completions for 2017, we ended the year with a very robust pipeline of deals currently with lawyers which we would expect to complete in the first quarter of 2018. The appetite for securing portfolio acquisitions reflects the entrepreneurial spirit of our franchisees who are adapting to changes within the sector and seeing opportunity for growth as the sector consolidates.” Founded in 1995, Belvoir Lettings PLC is the largest property franchise in the UK, operating 300 offices across four brands that offer services ranging from property rental, property management, residential lettings, buy to let and property sales. The Group has its central office in Grantham, Lincolnshire and manages over 57,000 properties throughout the UK.
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