Belvoir Lettings (LON:BLV)

Belvoir Lettings (LON:BLV)

Share Price
115.00 p
0 (0.00 %)
Market Cap
£40.18 m
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Belvoir Lettings

Founded in 1995 and listed on AIM in 2012 (BLV.L), Belvoir began as a specialist franchised lettings agent and extended its services to encompass estate agency in 2014.  Between 2015 and 2016, the Belvoir Group adopted a multi-brand strategy by acquiring the Newton Fallowell, Goodchilds and Northwood franchise networks.  In 2017 we broadened our property-related services to encompass...

Market: AIM:BLV
52-week High/Low: 123.00p / 85.00p
Sector: Real Estate
Market Cap: £40.18 m
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Big Picture – A Deep Dive Examination of Belvoir Lettings

Belvoir Lettings Snapshot

Belvoir is the UK’s largest property franchise on the high street. We have over 170 offices around the UK managing a combined total of more than 30,000 properties – with a total value of over £10billion..

Belvoir was founded in 1995 by Wing Commander Mike Goddard and his wife Stephanie. The entrepreneurial couple applied their extensive experience and strict standards of quality and customer care to create a professional, yet personal residential lettings service that exceeded the expectations of landlords and tenants.

Each of our 170+ offices are run by passionate, local property experts that operate out of eye-catching shopfronts on the high street. This means you’re getting the benefit of buying, selling and letting with a national brand, but you’re also benefitting from genuine local expertise and knowledge that cannot be learned through corporate training. 

Good customer service is one of our core values and we always aim to exceed the expectations our clients have. Our franchisees are all regularly updated with the latest information in legislation and changes to the sector to ensure our customers are the first to find out. Our dedication in ensuring an excellent customer journey for all Belvoir customers is illustrated by our multi-award winning status – we have won gold for Best Lettings Franchise at the Times & Sunday Times for 6 years out of 7.

In 2012, Belvoir became the first residential lettings agency to launch on the AIM of the London Stock Exchange. We sight further growth with our UK-wide acquisition programme, which will see further Belvoir offices opening in towns up and down the country.

Your local Belvoir office is closer than you think, click here to find out!

The stringent requirements of Belvoir’s franchise licence ensures that all our offices operate under the highest standards of professional conduct at all times, and each office has access to our highly trained support team that is based at our Grantham Central Office. 

This team provides our offices with the latest updates and training in legal, complaints handling, IT, compliance and marketing. Each Belvoir office can provide a series of unique products and services, including leading tenant insurance and landlord insurance packages. Belvoir’s dedicated legal helpline ensures that offices are able resolve any issues quickly and effectively.

Our franchise model is built on 22 years of experience, the entrepreneurial drive and local knowledge of our franchisees, and the support and guidance of our Central Office team.

Our difference

Service excellence
Our experience and focus on customer service have enabled us to stand out from the crowd and are key to the success of our Group.

Greater financial stability
The combination of a strong lettings base with the addition of property sales provides our franchisees and the Group as a whole with greater financial stability than many typical estate agencies.

The franchise network
Our franchisees benefit from the backup and support associated with a large franchise operation whilst operating their own business with the entrepreneurial drive of an owner-manager.

Our process

New franchisees pay an upfront fee to cover our training and mentoring programme. An ongoing monthly management service fee, based on franchise revenue, contributes towards Central Office operations and further investment in the business.

We work closely with potential new franchisees to ensure that they are a good fit for our business model of high quality service delivery and sound business ethics. This process minimises the risk to both the franchisor and the franchisees and ensures our high success rate.

Brand equity
Our brands are highly regarded and respected for their core values of professionalism and customer service. We invest continually in our brands to ensure that messaging remains fresh and relevant to our markets.

Each franchisee has a dedicated business mentor who helps them to develop their business. Advice and support is available from Central Office in specialist areas such as legal, IT, compliance and marketing.

We facilitate a culture where franchisees learn from each other and share experiences through both national and regional networking groups.

New franchisees undertake an intensive training course prior to opening. Continual professional training and development is conducted both at Central Office and via webinars.

Delivering value

We provide a proactive support system, bringing the best and most up-to-date tools, advice and services to our franchisees with group deals negotiated where possible.

We recognise the need for our Central Office operations to attract, train, reward and retain highly motivated staff to deliver a professional service to our franchised networks.

Our professional service goes above and beyond legal requirements. Our franchisees’ key role is to deliver exceptional customer service to their clients.

Our Board is committed to building a business capable of creating value for our shareholders based on sound business ethics.

Adjusted basic EPS increased to 7.7p (2015: 7.3p)

Michael Goddard

Mike founded Belvoir in 1995, having previously served in the Royal Air Force. He is a well respected figure in both the UK lettings market and franchising industry having been chairman of the British Franchising Association, a director of the National Approved Lettings Scheme and a director of The Property Ombudsman, and having served on the World Franchise Council. His key skills are team building and strategic business planning.

Member of the Remuneration Committee

Dorian Gonsalves
Chief Executive Officer

Dorian has extensive experience in the property industry having spent seven years with Countrywide before joining Belvoir in 2005 as Business Development Manager and being appointed Sales Director a year later. Currently Chief Operating Officer, Dorian’s key skills include people management and business development and he has a deep understanding of successful franchising. Dorian is also a director of The Property Ombudsman.

Louise George
Chief Financial Officer

Louise is a Chartered Accountant and Chartered Secretary, having qualified with Ernst & Young in 1991. She has over 14 years’ board-level experience with AIM-listed companies and has built up good relations with institutional investors. Louise has established a reliable finance function capable of supporting business growth and over the past two years has overseen three significant acquisitions for the Group. Louise also serves as Company Secretary to the Group.

Mark Newton
Executive Director

Mark, a Chartered Surveyor, has over 30 years’ experience of estate agency having joined Black Horse Agencies in 1984 and subsequently becoming managing director of Legal & General Estate Agents. In 1999 Mark established Newton Fallowell, which he built into a network of 30 franchised outlets before selling to Belvoir in July 2015. Mark is Managing Director of Newton Fallowell Limited with board-level responsibility for the management and growth of the Newton Fallowell and the Goodchilds networks.

Nicholas Leeming
Non-Executive Director

Nicholas, a Chartered Surveyor, was a partner in Humberts and a joint founder of Propertyfinder, the UK’s first national property portal, before becoming commercial director of Zoopla. Since 2012 Nicholas has built a portfolio of business interests involving key estate agency firms nationwide giving him a deep insight into the UK property industry.

Chairman of the Remuneration Committee
Member of the Audit Committee

Andrew Borkowski
Non-Executive Director

Andrew has over 25 years’ experience as a corporate lawyer having been a partner at Geldards LLP until 2015, leading its corporate and banking team. Andrew is now chief executive of a private family investment fund, Fullbrook Thorpe Investments LLP, a consultant to Geldards LLP and a non-executive director of a number of privately held concerns.

Member of the Remuneration Committee
Chairman of the Audit Committee


Registered address

The Old Courthouse
60a London Road
NG31 6HR

Phone number: 01476 584900

Email address: [email protected]

Nominated advisor and broker
Cantor Fitzgerald Europe
One Churchill Place
Canary Wharf
E14 5RB

Independent auditor
Chartered Accountants and Statutory Auditor
Donington Court
Pegasus Business Park
Castle Donington
DE74 2UZ

Browne Jacobson
Mowbray House
Castle Meadow Road

Hamilton Pratt
Franchise House
3a Tournament Court
Tournament Fields
CV34 6LG

Registrar and transfer office
Computershare Investor Services PLC
The Pavilions
Bridgewater Road
BS99 6ZZ

Phone: 0870 707 1762

Financial public relations
Buchanan Communications Limited
107 Cheapside

IR contact details
Customer services
Email: [email protected]

Phone: 01476 584 900

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