Hybrid agency aims to have 200 UK territories this year

Hybrid agency EweMove has expanded its brand presence into 189 territories across the UK according to its parent company, The Property Franchise Group.

In 2022 EweMove sold 44 new territories - down on the 2021 figure of 58.

Commentary from the company said the hybrid brand enjoyed a strong year and anticipates exceeding 200 territories by late 2023.

TPFG now manages over 76,000 rental properties on behalf of landlords, growth in 2022 coming from the company’s assisted acquisitions programme, along with full year income from the acquisition of Hunters.

Managed Service Fees from lettings of rose some 13 per cent.

In an upbeat trading report Gareth Samples, chief executive of TPFG, says: “MSF accounted for 60 per cent of group revenue, whilst lettings, our most significant recurring revenue stream generated by our franchise network and our owned offices, accounted for 43 per cent of group revenue. 

“We remain focused on increasing the contribution from lettings in line with our strategic initiatives.

“We achieved the net cash position we expected at year end paying off our term loan early. This was an important step in proving the successful integration of Hunters and underpins our ongoing success, no matter how the external conditions develop.

“As a highly cash generative group with a strong balance sheet, we look forward to the opportunities that 2023 may bring."