Posted:21-September-2018
Belvoir's £5.7m of deals capitalises on consolidating market
Year to date figures for Belvoir’s highly successful Assisted Acquisition Programme (AAP) reveals a massive 255% increase in acquired turnover compared to the same period last year.
“The continued extraordinary success of our AAP reflects Belvoir’s considerable investment in our highly skilled in-house Acquisitions Team,” said Belvoir CEO Dorian Gonsalves.
“So far this year Belvoir has already completed on 21 acquisitions, which have added 3585 managed properties to the national portfolio. In addition we have a pipeline of six acquisitions that are already with lawyers plus a further 15 opportunities that are currently under consideration.
“A year to date comparison shows an increase of 255% in acquisition turnover from £2.1 million to September 2017 up to £5.3 million to September 2018, and we expect this figure to grow considerably by the end of the year.
“Belvoir’s growth strategy is one that focuses on helping our franchisees to benefit from the many opportunities that market conditions are currently presenting. When a franchisee joins Belvoir, we consider this to be very much the start of their journey and it is our aim to help ensure the development and growth of their business, as this provides a win-win scenario for the franchisee and franchisor.
“Belvoir’s AAP is unique because it is very structured, and provided entirely in-house. Our decision to not use outsourcing ensures that each acquisition remains totally within our control, and the process is robust enough to mitigate risks. We go to great lengths to prove the viability of each acquisition, and negotiate on the franchisee’s behalf with the aim of enabling our franchisees to be debt-free within five years.
“We predict that the market will continue to consolidate for at least a further two years, and this will result in the closure of many independent agencies. I would advise any agent who is considering their exit strategy to ensure that they sell their business to a team that is willing and able to deliver in terms of funding, viability and process. Belvoir’s acquisitions to date have ranged in value from £25,000 to £1.5 million, and vendors can be reassured that we have the funds, skills and ability to complete on a wide range of opportunities. I am confident that Belvoir will go on to smash its own records for acquisitions during the final quarter of 2018, throughout 2019 and beyond.
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