Franchise news


Belvoir franchise looking to list on the AIM Market

Belvoir Lettings PLC, one of the UK’s largest lettings franchises, has announced its intention to seek admission to the AIM market of the London Stock Exchange plc and to raise approximately £6.0m - £8.0m (including £3.0m of new money) via a placing of new and existing ordinary shares.

According to the information provided, the UK lettings market is in a steady growth phase which is predicted to continue for many years. There are an estimated 3.0 million privately rented properties in England, accounting for almost 14% of all households in England. Belvoir has delivered consistent growth since its inception in 1995 and has been consistently profitable over the last 5 years.

Mike Goddard, Chairman, commented, “The UK lettings industry has displayed steady growth through a difficult economic time and Belvoir has been at the forefront of this growth. It is one of the UK’s largest lettings franchises and has remained consistently profitable over the last 5 years. We believe an AIM listing is the best means to continue building on this momentum by increasing public awareness of the Belvoir brand and recognition of the Group as well as raising the profile of the Group with its franchisees and their customers. The funds raised from the Placing will enable us to meet our ambitious UK geographic expansion plans to increase our national reach and strong market presence.”

The Belvoir brand is based on providing a professional and personal service designed to exceed the expectations of landlords and tenants. Belvoir is one of the UK’s largest specialist residential lettings businesses. The award-winning franchised lettings agency business currently has 142 franchised offices operating across the UK. According to the company, it intends to grow this number to over 200 franchised offices by 2016. (kbp)


letting and property management
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Cold comfort for Belvoir’s Mike and Stephanie Goddard

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