Belvoir becomes the largest property franchise group in UK
Published: 10 June 2016
Belvoir, the estate and lettings agency, has announced its acquisition of Northwood, the largest remaining independent lettings franchise in the UK, adding a further 86 offices to the network, and taking the total number of outlets to 301.
“I am delighted to confirm that, subject to completion today, Belvoir will be acquiring Northwood GB Ltd,” said Dorian Gonsalves, Belvoir’s managing director. “Northwood, which was started in 1995, is a very well-respected lettings and sales network with a strong lettings bias and the opportunity to acquire the company represented a clear strategic and cultural fit for Belvoir. It is also indicative of our commitment to developing the network with multi-brand franchises. The Northwood acquisition will add 86 franchised offices in various locations around the UK and I am pleased to say that this will position the Group as the largest property franchise in the UK with more than 54,000 managed properties and a total of 301 outlets.
“In addition to our recent acquisitions of existing franchise networks, we have worked extremely hard to put our franchise owners forward as credible, well-prepared and well-funded acquisition buyers in their local territories. As a franchisor, we will continue to do the same when strategic opportunities present themselves. Our pipeline of franchisee-led acquisitions remains strong and several new acquisitions are due to complete in the next few weeks, bringing second and even third offices to those Belvoir franchise owners who have been actively pursuing their own acquisition strategy.
“To survive and thrive in our market, and to further enhance our collective brands locally and nationally, we must continue to explore new frontiers. The Northwood acquisition is a prime example of our commitment to this. I am delighted to confirm that Gemma Goodson, chief executive of Northwood, will be remaining in her role, as will managing director Eric Walker. Their invaluable input will provide continuity and a wealth of experience that will help to ensure the success of this new partnership.”
