Belvoir is delighted to announce the acquisition of Northwood, the largest remaining independent lettings franchise in the UK, adding a further 86 offices to the network, and taking the total number of outlets to 301. This latest acquisition officially makes the Belvoir group the largest property franchise group in the UK, surpassing our nearest competition.
On the announcement of this news, Belvoir’s Managing Director, Dorian Gonsalves said “Northwood, which was started in 1995, is a very well-respected lettings and sales network with a strong lettings bias and the opportunity to acquire the company represented a clear strategic and cultural fit for Belvoir. It is also indicative of our commitment to developing the network with multi-brand franchises. The Northwood acquisition will add 86 franchised offices in various locations around the UK and I am pleased to say that this will position the Belvoir Group as the largest property franchise in the UK with more than 54,000 managed properties and a total of 301 outlets.
“When we floated on the London Stock Exchange in 2012 we made a clear promise to our network and to our investors that we would reach 200 offices before the end of 2016. Having achieved 300+ offices by June 2016, we are well ahead of our target.”
This is not the first acquisition for Belvoir, which now operates a multi-brand strategy. On the effects that the acquisition could have on the rest of Belvoir, Dorian said “Similar to when we floated in 2012, and then went on to acquire the Goodchilds and Newton Fallowell brands in 2015, the acquisition of Northwood is not anticipated to have any detrimental impact on existing Belvoir or Northwood offices. Both brands have already operated successfully in the same territories for several years and this situation will continue unchanged.”
With separate management and support teams in place for each of the brands, the multi-brand strategy is seen as a glass-wall system ensuring none of the support structures in place are affected when a new acquisition is announced. With the industry currently evolving and a massive focus being put online, this recent acquisition by Belvoir shows just how strong the demand for traditional agents is.
Northwood’s Managing Director, Eric Walker comments “Belvoir is hugely respected within the industry and there is great empathy between the two Boards. This is an age of consolidation and we really needed to try and find a partner so that we could develop and expand our business, whilst continuing to offer our USP of a guaranteed rent product. The entire Northwood Board was in agreement that we like the way that Belvoir operates, as they are always consummate professionals with a similar ethos and ethical approach to business. This really is a marriage made in heaven and a fantastic opportunity for everyone.”
There's never been a better time for you to be part of the UK's leading property franchise group.
Belvoir is an award-winning estate and lettings agency with over 200 successful offices around the U.K. If you would like to talk about being our next success story, please call us on 01476 570000 or email us on email@example.com