Belvoir announces solid performance in the final months of the financial year just ended.

January 23, 2017

Belvoir Lettings PLC the UK’s largest property franchise, today released their trading update to the close of the financial year ended 31 December 2016, recent developments in the business, and the outlook for 2017.

They stated: The Group achieved a solid performance in the final months of the financial year just ended, reflecting the continued underlying organic growth in franchise management service fee income, with further growth arising from the acquired franchised networks at a corporate level and from portfolio acquisitions at a franchisee level. Consequently, the Board expects that the results for the year will be broadly in line with market expectations. 

Mike Goddard, Chairman and CEO of Belvoir commented: “2016 has been another significant year for the Belvoir Group.  Our acquisition of Northwood in June has enabled us to grow our lettings portfolio substantially to some 54,000 managed properties and thus become the largest property franchising group in the UK.  This, combined with a full year of trading for our other two recently acquired brands, Newton Fallowell and Goodchilds, and continuing organic and local acquisition growth, has resulted in us growing our underlying Management Service Fee by more than 100% in two years.

 “We see many more opportunities for consolidation and the Belvoir Group is in prime position at both local and national level to take advantage, despite the challenging times for the industry.  In addition, we believe that our clear focus on outstanding customer experiences combined with our exemplary professional service will enable us to adapt to, and succeed in, the changing face of the industry.  We look forward to 2017 with confidence and excitement.”

Read the Belvoir Lettings PLC pre-close trading update in full click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

Conveyancing causes more stress than property chains

The latest research by Lyons Bowe has found that 42% of recent homebuyers say conveyancing is the biggest barrier to a smooth property transaction, compared with just 19% who point to property chains. The survey of 1,000 recent homebuyers* examined which aspects of the transaction process had presented the biggest barriers to a smooth journey,…
Read More →
Rightmove logo
Breaking News

Britain’s most competitive summer rental hotspots

New analysis from the UK’s largest property platform Rightmove has revealed the areas where renters faced the strongest competition this summer, with several North West towns emerging as the toughest places to secure a home Wallasey and Birkenhead in Merseyside were Britain’s joint most competitive rental market during July and August, with an average of…
Read More →
AI in estate agency letting agency property
Letting Agent Talk

The 5 tasks lettings agents won’t trust to AI

AI must make lettings more human, not less, and that requires real rental intelligence. The latest research from Propoly has found that letting industry professionals see a clear role for AI in property management, but are reluctant to let it operate without human oversight, particularly when decisions involve people, complex circumstances or potentially significant consequences. Propoly…
Read More →
Breaking News

Foxtons Lettings Market Index – August 2026

The busiest weeks arrived earlier than usual, with activity spread more evenly across the summer due to implementation of the RRA • Renter registrations eased 3.0% in August. Along with July, it was still the peak of 2026, finishing off the summer rush just below July’s levels. • Competition for available property rose 22.4% in…
Read More →
Breaking News

Three-quarters of homebuyers hunt after 5pm

Britain’s property hotspots where estate agency branches are handling the most sales revealed The latest internal data from Street.co.uk has revealed that estate agency branches using the platform are handling an average of 4.7 property sales per branch each month across Britain’s major cities, some two properties more per branch than the estimated wider market…
Read More →
Breaking News

Breaking Property News 23/9/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Voluntary upfront property information is a tax on conscientiousness estate agents Nobody wants to go first Thought Leadership by Olivier Januiax Founder of Nestlink ‘Picture this, you have invited two estate agents to carry out a market appraisal on your home, because you want…
Read More →