07:00 Tue 12 Dec 2017
Belvoir Lettings PLC - Update on the Brook acquisition
For immediate release |
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BELVOIR!
(the 'Group' or 'Belvoir')
Update on the Brook acquisition
Belvoir lettings plc (AIM:BLV), the
In the past two months Brook has reported
Brook currently has three new mortgage advisers in training and is actively recruiting further advisers to provide additional capacity. To date the focus has been on the Group's predominantly estate agency network,
"When we acquired Brook, we were confident that it would be able to deliver strong growth of its existing business whilst increasing its capacity to provide financial services initially to the
The roll out to the
The recent significant growth, against the background of falling mortgage approvals as the housing market is perceived to be cooling overall, is evidence of Brook's ability to outperform the market."
Enquiries:
Dorian Gonsalves, Chief Executive Officer Louise George, Chief Financial Officer
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01476 584 900 |
Cantor Fitzgerald Europe Rick Thompson Philip Davies Will Goode
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0207 894 7000 |
Buchanan Charles Ryland Vicky Hayns Madeleine Seacombe |
0207 466 5000
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About
Founded in 1995 and listed on AIM in 2012 (BLV.L), Belvoir operates a nationwide property franchise group with 300 offices across four brands offering a range of specialist services in property rental, property management, residential lettings, buy to let and property sales. With its Central Office in Grantham, Lincolnshire, the Group manages over 57,000 properties and reported revenue of
Belvoir's core revenue is derived from Management Service Fees (MSF); a reliable recurring revenue model through which the Group offers franchisees significant support and advice.
In 2015 Belvoir launched its multi-brand franchising strategy and now owns
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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