Belvoir's latest deal highlights value it can add through acquisition
MMC offers a personal, high-quality approach to their clients
Company
LON:BLV
Belvoir Group PLC operates a nationwide property franchise group with 487 offices across seven brands specialising in residential lettings, property management, residential sales and property-related financial services. With its central office in Grantham, Lincolnshire, the group manages 75,000 properties and reported record revenues of £33.7m in 2022 marking Belvoir's 26th year of unbroken profit growth.
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MMC offers a personal, high-quality approach to their clients
“The acquisition will offer customers a wider choice of how they interact with the group"
“Rents are rising, with supply restricted, and financial Services benefits from remortgaging activity when sales are quieter.”
Financial services was also buoyant and helped by the acquisition of Nottingham Mortgage Services
Jon has over 19 years’ experience in property, having joined Telford Homes in 2002 where he served as finance director until 2011 and as chief executive from 2011 to now
She has managed in financial services for over 25 years
It is the "strongest market for property transactions seen since 2007"
A very buoyant housing market does not detract from the strategic progress the group continues to make
"The board is confident of achieving a strong trading performance for the full year"
"Belvoir has a range of growth opportunities in a changing, large and fragmented market"
The board is confident of achieving a strong trading performance for the full financial year
Belvoir Group answers investor questions following the company's presentation at the Proactive Investors One2One Virtual Forum on 3 June
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"Belvoir has a range of growth opportunities in a changing, large and fragmented market and has the model (franchise based) and proven management skill to continue to take advantage of them"
“Our strategic alliance is embedding really well across the network for estate agency and together we can help people not only find their new home but also fund it with the right mortgage for them"
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Even after a busy start to the year for completions, pipelines of agreed house sales are still almost double those of this time last year, Belvoir said
The lettings market remains resilient as demonstrated throughout the pandemic, while the sales and financial services markets are expected to remain buoyant thanks to government measures
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The purchase was made from existing cash resources