One of the UK’s largest specialist lettings agency franchises is reaping the benefits of a successful expansion drive in the Scottish highlands.
Property management firm Belvoir, which was founded in 1995 and was last year listed on the AIM market of the London Stock Exchange a year ago, grew its presence in Falkirk and Inverness.
Belvoir has more than 140 franchises nationwide and is keen to move into the territories it has yet to charter, which means more opportunities for potential franchisees.
Amjed Rasul, owner of Belvoir Inverness, acquired the residential lettings portfolio of a local agency and Mike Campbell of Belvoir Falkirk has bought out a local lettings business.
The Belvoir Falkirk acquisition takes the total number of managed properties on Mike’s books to more than 500, confirming his key player status in the area.
Amjed, who launched the Belvoir Inverness office just five years ago, said he was delighted and added he was keen to speak with other local agents interested in selling their portfolios.
Belvoir has ambitious growth plans for 2013 and is currently processing several other acquisitions with offices all around the UK.
CEO Dorian Gonsalves said: “As part of Belvoir’s growth strategy we are now proactively targeting key competitors. If it’s the right opportunity we can also provide assistance with funding.”