Belvoir Cardiff has completed the acquisition of a management portfolio of 130 rental properties.
The purchase of all properties managed by Letwise comes after the firm's owner retired from the lettings industry.
The franchise's portfolio in Cardiff and the surrounding now holds over 300 properties.
By expanding the rental portfolio, Belvoir Cardiff's franchise owner, Rob Price, is hoping to double the size of his team.
"With the acquisition now complete, we look forward to welcoming our new colleagues in the near future,” he says.
The purchase was completed with the help of a six-figure funding package from HSBC.
The bank's area director for South Wales, Phil Sargeant, comments: “Rob Price is an ambitious businessman with a clear strategy for the growth of his business."
"This acquisition came at exactly the right time for Belvoir Cardiff and we were able to move quickly to put the best funding facility in place to support its growth."
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Why would he do that. Now he's got to pay Belvoir about 9% of his profit. Then when he sells he has limited his audience & can only sell to another Belvoir franchisee, & it is proven you always achieve less than in the open market. Should have bought it & ran it himself as ' Rob Price Lettings' Franchises are a con!
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