Belvoir to become largest property franchise group in UK
Belvoir Lettings plc announced yesterday it has entered into a conditional agreement to acquire the entire issued share capital of Northwood GB Limited for a total consideration of up to £22.0 million.
Northwood is the largest remaining independent property lettings franchise in the UK, established in 1995 it is a clear strategic fit with the Group, operating 86 outlets nationwide.
It will strengthen the groups lettings bias by adding more than 17,000 managed properties and will increase the Group’s national presence by 86 additional outlets, it 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.
On completion Belvoir will be the largest property franchise group in the UK.