Belvoir says it does not rule out going into sales

Belvoir Lettings has not ruled out going into property sales – and is also considering commercial lets.

The firm, which announced strong results this week in its first year of trading on AIM, has previously said it would not consider sales and would stay firmly in its residential lettings niche.

But founder Mike Goddard told LAT this week: “Never say never.”

He said that if Belvoir did decide to go into sales, it would be “in a very lettings oriented way” which would give landlords the opportunity to buy and sell properties.

Goddard, who handed over the day-to-day running of the business to Dorian Gonsalves in 2010, added: “However, these days, I am just a member of the board of directors and it would not be my decision alone.”

If Belvoir does go into sales, it would be following in the footsteps of rival Martin & Co.

The firm said it is also considering commercial lettings, after some of its franchisees expressed interest in the sector.

It indicated that further growth is likely to be in London and South-East, which it believes have “huge potential”.

New locations about to open are Enfield, Middlesex; Ealing, London; and Haywards Heath, Sussex.

Franchisees pay £22,500 as an initial fee and then 12.5% of monthly turnover.