Belvoir is thrilled to reveal that owners Phil Collett and Chris Roberts of Belvoir Bury and Oldham have completed the acquisition of Rayson Wilshaw, a leading estate and lettings agent in Bury.
Phil and Chris, who joined Belvoir just 30 months ago, confirm that this acquisition has increased their portfolio size by 100%, meaning the number of properties they manage across three branches is now over 1000.
“We have been searching for the right acquisition opportunity for about 18 months and this seemed ideal,” says Phil. “The Rayson Wilshaw office is in Holcombe Brook, which is in the Ramsbottom area of Bury and has been well established for over 20 years. Although Belvoir Bury has done a little business in this area in the past, we now have a very large presence, which is excellent for the brand. We are also delighted that Belvoir Bury has entered into residential sales, and our highly experienced team of staff continue to deal with this.
“On completion of the acquisition we received approximately 300 rental properties, plus a portfolio of 39 properties for sale, although we have already added a further eleven, bringing the total to 50, we also have a pipeline of over 20 that have been sold.”
Phil and Chris launched Belvoir Bury in January 2013 and since then the franchise has gone from strength to strength. In January 2014 their achievements were officially recognised when the entrepreneurial business partners won the title of Belvoir New Franchise of the Year. Today they have a team of 14 staff, with three people dedicated to sales.
“It’s remarkable to look back and see what we have achieved in just two and a half years,” says Phil. “In 2013 we first launched Belvoir Bury with no landlords at all. We worked really hard and built up a portfolio of 300 properties. Last summer we added to this significantly, by securing a contract to manage 205 brand new apartments on behalf of London-based agents Knight Frank. The first phase of those properties became available in August/September last year and we rented all 66 in just 14 weeks. This year, on 14th April, we collected the keys for a further 87 properties and we have already rented out 25 of these in 3 weeks.
When we bought Belvoir Oldham in January 2014, it was an existing franchise with 70-80 managed properties and we have now doubled the size of that portfolio. The Rayson Wilshaw acquisition, which had 150 managed properties and another 150 let only properties, has effectively doubled the size of our Bury business overnight, meaning we now have a lettings portfolio of over 1000 properties – which is not bad going in two and a half years!”
Phil says Belvoir’s Central Office team was a tremendous help in facilitating the acquisition. “A team from Central Office came out to Bury to do the due diligence for the acquisition,” says Phil. “We also worked with the team at Sun Axis and Neal Myers was exceptional in helping to pull everything together. Belvoir was able to loan us the money to make it all possible, and I would like to personally thank Belvoir’s Finance Director Louise George for her help.
“This is a very exciting time for Belvoir Bury, and Chris and I are extremely busy but really enjoying the challenge. We have taken on a new Operations Manager to deal with the aspects of the day-to-day running of the business, and plan to dedicate more time to concentrate on the strategic development and growth of our three offices.”
Dorian Gonsalves, Belvoir’s Director of Commercial and Franchising says: “I would like to offer my congratulations to Phil and Chris on their acquisition, which has taken Belvoir Bury to a whole new phase in its growth, particularly with the inclusion of residential sales, which is something that many Belvoir offices across the country are now introducing.
“This acquisition is another example of Belvoir’s successful growth strategy taking effect. By continually seeking out acquisition opportunities and supporting our franchise owners, Belvoir is in a very positive position to continue to establish the brand and grow our network nationally.
“We greatly admire the passion and determination of Phil and Chris in Bury and Oldham and wish them every success for the future.”