Belvoir Lettings, one of the UK's largest agency franchises, is continuing its expansion programme with three new offices.
Rayson Wilshaw, a sales and lettings agency in Bury, has been taken over by the existing Belvoir Oldham and Bury offices, and a statement to the City by AIM-listed Belvoir says the cost of the move will be £250,000 - some 50 per cent paid in cash and the rest as a deferred consideration over a four year period.
Belvoir opened its current Bury office in January 2013, then acquiring the neighbouring Oldham office in January 2014 and winning the 2014 Belvoir New Franchise of the Year award.
This latest acquisition of Rayson Wilshaw will more than double the size of Belvoir’s business in the area, taking the lettings portfolio to over 1,000 properties and giving it a foothold in the estate agency market in Bury.
The company says its strategy remains one of helping franchisees to grow the Belvoir brand across the UK in lettings and estate agency.
"By constantly seeking out acquisition opportunities and supporting our strong franchisees, Belvoir is in a very positive position to continue to establish the brand and grow our network nationally" says Belvoir chairman and chief executive, Mike Goddard.
Meanwhile Belvoir Swansea and Belvoir Bedford are both opening second offices.
Ben and Daisy Davies will be opening their second Swansea office in Mumbles, widely regarded as one of south Wales’ most affluent areas. “About a third of our business has always been in this area, which includes the Gower peninsula, and is an affluent location incorporating many high-end properties” says Daisy Davies.
Over at Belvoir Bedford, owner Zoe Bywater, who has been in business for 13 years, has completed an office rebrand, taken on new, adjacent premises and been joined by husband Nigel as the couple expand into residential sales.