Belvoir Lettings PLC - Further Expansion
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
(the 'Group' or 'Belvoir')
Belvoir lettings plc (AIM:BLV), the
This acquisition, which comprises 624 managed properties within Welwyn-Garden-City and
Furthermore, three other of Belvoir's franchisees in Derby West, Hendon and Corby have also recently acquired a local lettings portfolio, which will add collectively
"In the recent trading update, we reported that we had doubled the number of transactions under our Assisted Acquisitions programme in 2017 and promised that there was a strong pipeline expected to complete in the first quarter of 2018. We have already delivered on that promise within just two months with these four transactions equating to 75% of the total value of 2017 franchisee acquisition transactions, adding around 1,335 managed properties to the Belvoir network.
Our Assisted Acquisitions pipeline remains strong and the Board has set itself the target of doubling the value of such franchisee portfolio acquisitions again in 2018. Our ability to capitalise on the consolidation in our sector is a testament to the
For further details:
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0207 894 7000
0207 466 5000
Note to Editors:
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,
About Belvoir Hitchin
Having opened in 2008, Belvoir Hitchin was resold to the current franchisee in 2014 and since has grown by over 50%, now ranking as the 8th largest Belvoir office. In 2016, the franchisee opened a second office as a cold start in Welwyn Garden City and has built up that business to be the 60th largest Belvoir office which is an outstanding achievement for a new office within just 20 months. This acquisition will add a third territory and substantially increased the Belvoir market share within the existing two territories.
This information is provided by RNS
Quick facts: Belvoir Group PLC
Market Cap: £33.61 m
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