Belvoir Rolls Out The Red Carpet For Industry Veteran
Belvoir, the UK’s largest property franchise welcomes industry veteran Michael Stoop into its directorship.
In a recent announcement, Belvoir Lettings trumpeted Michael Stoop as its new non-executive director, with Nicholas Leeming stepping down. After a five-year service with Belvoir, Leeming will leave as of April 10th and Stoop will be stepping in. Industry veteran Stoop launched his agency career with Winkworth, later joining the Legal & General Group in 1992 where he singlehandedly coined Legal & General Franchising Ltd which lead to the franchising of its corporate estate agency business. In 2014, it would be sold to The Property Franchise Group, then known as Martin & Co. Following this feat, Stoop joined TPFG as the groups’ managing director. In 2001, he became member of The Property Ombudsman board and by 2015 he was vice chairman and non-executive director of PropTech firm Sorbet HQ. As Leeming retires from the board, Stoop will take over the role of chairman of the Remuneration Committee and become a member of the Audit Committee.
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.
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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