The Property Franchise Group has recorded an eye-watering 93% leap in lettings revenue in one year.

This was for 2024, when it acquired both the Belvoir and Fine & Country agency brands, including their lettings books. 

In a statement to shareholders, TPFG says: “Lettings Management Service Fees delivered a notable year of growth, with revenue up 93% to £19.0m, building on the solid performances of previous years and significantly bolstered by the acquisition of Belvoir. The Group now manages over 153,000 rental properties (2023: c.78,000). Our newly combined scale was maintained despite challenging market conditions. 

“The Group minimised landlord attrition on account of the value placed on the enhanced services our franchisees are able to offer to landlords from being part of our Group, coupled with strong relationships with their local landlord base. This is enabling us to offset the risk of landlords wanting to exit the market.”

Elsewhere in the statement TPFG said it was now split into three divisions, which it claims will drive the overall company to growing revenues.

Division one is Franchising which it describes as being “core to the group” now operating 15 brands, managing 153,000 rental properties and achieving over 30,000 sales during 2024, making it the biggest property franchise business in the UK.

The next is Financial Services: following the integration of Brook Financial Services, an authorised representative of the Mortgage Advice Bureau, this division was “substantially strengthened” and in 2024 it facilitated over 23,000 mortgages valued at over £4 billion.

The final division is Licensing: this comprises Fine & Country, where both UK and international licensees pay a fixed fee to trade under the brand whilst receiving marketing and regulatory support, and The Guild of Property Professionals, which offers its 749 members what TPFG calls “a well‑established brand that provides access to group buying power and regulatory guidance in return for an annual fee.”

TPFG says that each division is focused on six key growth pillars: Lettings, Sales, Financial services, Group acquisitions, Recruitment and Digital Marketing and Artificial Intelligence.