Acquisition

RNS Number : 5381L

Belvoir Lettings PLC

04 July 2014

 



For Immediate Release	4 July 2014

BELVOIR LETTINGS PLC

(the "Company" or "Belvoir")

Acquisition

Belvoir Lettings PLC (AIM: BLV), one of the UK's largest lettings franchises, is delighted to announcethe acquisition of "Maitland Rachel", based in Hereford.  

Maitland Rachel is a Lettings and Estate agent which has been acquired by the current Franchise owner of Belvoir Hereford and Belvoir Worcester. Maitland Rachel will ultimately be combined with the Franchise owner's current agencies. The acquisition will be financed by a loan from Belvoir head office, funded through existing cash facilities and will more than double the size of the franchisees property portfolio.

Mike Goddard, Chairman and CEO commented:

"This acquisition is another example of Belvoir's strategy to support our Franchisees as they expand their businesses in their local areas whilst also expanding the Belvoir brand across the UK. With a number of more acquisitions currently in the pipeline we look forward to updating the market on our progress of further expanding our network."

For further details:

Belvoir Lettings PLC Mike Goddard, Chairman and CEO Louise George, Finance Director	01476 584900 [e-mail]
Cantor Fitzgerald Europe Rick Thompson, David Foreman, Corporate Finance David Banks,  Corporate Broking	0207 894 7000
Buchanan Charles Ryland, Gabriella Clinkard	0207 466 5000

About Belvoir Lettings PLC

Belvoir was founded in February 1995 by Mike and Stephanie Goddard. Its Central Office is in Grantham, Lincolnshire.

Belvoir is recognised as one of the largest specialist lettings agency franchises in the UK, with 160+ offices nationwide and aims to have 200 franchises in the next three years. Belvoir was officially awarded the Best Lettings Agency Franchise Gold Award at the 2014, 2013, 2012 and 2010 Lettings Agency of the Year Awards in association with The Sunday Times & The Times. Belvoir also won the Silver Award in 2011.

Belvoir was voted Best Large Lettings Chain at the Estate & Letting Agent Awards (ESTAs) 2013, and won Silver in 2014. Belvoir has won Brand Builder of the Year at the bfa Franchisor of the Year Awards 2011 and Best Marketing Campaign of the Year at the Franchise Marketing Association (FMA) Awards 2011. Belvoir is a founder member of the SAFE Agent Kitemark scheme, which is fully supported by NALS. SAFE Agent promotes client money protection (CMP) and provides consumers with a clear message on those agents they should do business with.

Belvoir successfully listed on the AIM market of the London Stock Exchange on 21^st February, 2012. 

 

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