Strategic Estate Agency Alliance

RNS Number : 4603S

Belvoir Group PLC

09 July 2020

 

For immediate release	9 July 2020

BELVOIR!
 

BELVOIR GROUP PLC

(the "Group", or "Belvoir")

Strategic Estate Agency alliance with The Nottingham Building Society

Belvoir Group PLC (AIM:BLV), the UK's largest property franchise, today announces that it has entered into a strategic alliance with The Nottingham Building Society ('The Nottingham' or the 'Society'). The alliance will see Belvoir's established network of franchisees, trading under the brands Belvoir, Northwood, Newton Fallowell and Lovelle, extending their estate agency and lettings services to new locations sited in co-branded existing building society branches.

Under the agreement, the vast majority of The Nottingham's estate agency and lettings activity will transfer over to the Belvoir Group and the Society will cease trading as its own estate agency and lettings operation for new business by the end of August 2020.

Franchisees within the Belvoir Group will have the opportunity to offer The Nottingham's members high quality estate agency services, either from existing building society branches or from Belvoir's stand-alone offices throughout the UK.  In the first instance this opportunity will be extended to a number of franchisees to increase their footprint by taking a presence in up to eleven of The Nottingham branches, to be co-branded, based in Nottingham, Leicester and Cambridge.

Dorian Gonsalves, Chief Executive Officer of Belvoir Group, said:

"This strategic alliance represents a very exciting and mutually beneficial opportunity for both the Belvoir Group and The Nottingham, and is expected to pave the way for further joint initiatives in the future.

"I am confident that this innovative alliance will prove to be a great success, as Belvoir and The Nottingham already share many core principles, including a determination to ensure that the customer remains very much at the heart of all aspects of the business."

The person responsible for arranging the release of this information is Louise George, Chief Financial Officer of the Company.

For further details:

Belvoir Group PLC Dorian Gonsalves, Chief Executive Officer Louise George, Chief Financial Officer www.belvoirgroup.com	01476 584900 [e-mail]
finnCap Julian Blunt, Teddy Whiley (Corporate Finance) Tim Redfern (ECM) www.finncap.com		[phone]
Buchanan Charles Ryland, Victoria Hayns & Tilly Abraham	[phone]

Notes:

About Belvoir Group PLC

Founded in 1995 and listed on AIM in 2012 (BLV.L), Belvoir operates a nationwide property franchise group with 396 offices across five brands specialising in residential lettings, property management, residential sales and property-related financial services. With its Central Office in Grantham, Lincolnshire, the Group manages 68,550 properties and reported record revenues of £19.3m in 2019 making Belvoir the largest property franchise group in the UK.

For further information, please visit: www.belvoirgroup.com

 

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