One of the country’s youngest lettings franchise holders has opened a second branch by acquiring an independent agency.
Kuljeet Aujla, owner of Belvoir Hull, has successfully completed on the acquisition of Grimsby-focussed Willow Estates.
Aujla joined Belvoir three years ago, launching his original Hull operation as a cold start.
“I am originally from Grimsby, and the agency I have bought is very well-established in the area, having been with the vendor for about 15 years, and the previous owner for 10 years. Over the coming months we will gradually rebrand this new business to Belvoir Grimsby” he says.
The acquisition has added 290 rental properties to Aujla’s portfolio; he has retained two staff members.
“Until now, this agency had focused purely on lettings, but as with the Belvoir Hull office we will be offering the whole package – rentals, selling, buying, investment advice, insurance and mortgages. We will even do project management for any properties that need work.”
The acquisition was self-funded but facilitated by Belvoir’s Assisted Acquisition Programme.
Speaking of the move, Belvoir chief executive Dorian Gonsalves saus: “Kuljeet is a very ambitious, young entrepreneur and I am confident that his strong business background, positive approach and youthful enthusiasm will ensure that Belvoir Hull [and] Belvoir Grimsby … will continue to make a real impact on the local property market.”
Gonsalves says Belvoir is “actively seeking” more such acquisition opportunities in addition to some already in the pipeline.