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

can you drink tap water
Letting Agent Talk

What tenants really want from a HMO in 2026

By Allison Thompson, Chief Lettings Officer, Leaders part of LRG   Houses in Multiple Occupation (HMOs), also referred to as multi-lets or room rentals, have come a long way in the past couple of decades. Once thought of as very much at the bottom of the accommodation pile, with a reputation for being sub-standard, many…
Read More →
Estate Agent Talk

Rethinking Property Transactions Starts with Communication

By Cara Stanbridge, Head of Relationship Management at Nova Legal   Across the UK property market, transactions are in turmoil. Ongoing economic pressures are impacting house prices, mortgage deals, and overall demand, reflecting the uncertainty nationwide. In fact, a recent study found that for those who are taking the plunge to buy or sell this year,…
Read More →
Breaking News

B2L mortgage costs climb 64% in a decade

The latest research from London lettings and estate agent, Benham and Reeves, has revealed that the average monthly cost of a buy-to-let mortgage has climbed by as much as 64% over the last decade, as landlords continue to face mounting financial pressure alongside sweeping reforms introduced via the Renters’ Rights Act.   Benham and Reeves…
Read More →
Breaking News

Breaking Property News 13/5/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Renters’ Rights Act: What Estate Agents Need to Understand About the Tenant Impact   Author Andrew Stanton Editor EAN   The Renters’ Rights Act represents the biggest structural shift to the private rented sector in decades, and while much of the conversation has focused…
Read More →
Breaking News

First-time buyers bear the brunt of mortgage mayhem

Moneyfacts UK Mortgage Trends Treasury Report data reveals that despite mortgage turmoil easing in April, first-time buyers remain under pressure from reduced choice and stretched affordability. Mortgage product choice has contracted by around 10% since the start of March, with higher loan-to-value deals (10% or less deposit or equity) falling by 14%, a blow to…
Read More →
Breaking News

Breaking Property News 12/5/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Commercial real estate is entering a new era powered by artificial intelligence CRE is now powered by artificial intelligence, automation, smart data, and digital-first workflows. For decades, the industry relied heavily on spreadsheets, disconnected systems, and manual administration. Today, technology is becoming central to…
Read More →