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Belvoir's Northwood makes five more portfolio acquisitions

Northwood, a wholly owned subsidiary of Belvoir, has made five portfolio acquisitions in the past two months.

At the end of August, Belvoir reported that five franchisees had completed on portfolio acquisitions.  

Since then a further five acquisitions have been completed bringing the total for the year to date to 10; together, these add around 1,000 new properties generating an additional £140,000 fees annually. 

"Our confidence in Northwood, its senior management team and its franchise network to deliver strong growth as part of the Belvoir Group has been more than justified" says Dorian Gonsalves, chief executive of Belvoir Group.

"With the reduced cost base following restructuring of certain functions announced earlier this year and given the robust growth arising from these 10 franchise led acquisitions, the board is delighted with the performance of Northwood. It is a huge credit to both teams within Northwood and Belvoir who have made the assimilation of Northwood into the group such a success" he adds.

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