Franchise agency shows startling growth from property, financial services

Belvoir has issued another upbeat trading report, saying its revenue for the first six months of the year is up 53 per cent on this time two years ago.

Its complete half year figures will be released next month but so far, in comparison to H1 2019, the property division achieved revenue growth of 45 per cent.

Of this 25 per cent represented growth in the underlying business and 20 per cent from the Belvoir’s investment in two additional franchise networks, Lovelle in January 2020 and Nicholas Humphreys In March 2021.  

Meanwhile, the financial services division reported revenue up 62 per cent on H1 2019 through organic growth of the adviser network.

Dorian Gonsalves, chief executive of Belvoir Group, comments: "We continue to see exceptionally strong trading across the Group, well ahead of our expectations as at the start of the year. Our residential property sales hit a peak in June and pipelines remain strong.  Lettings has achieved growth from increased rental activity and tenant demand creating an upward pressure on rents.

"Our financial services division continues to go from strength to strength, benefitting from the strong sales market and our enlarged network of advisers.

"The Board has continued to pursue its growth strategy in H1 through the acquisition of Nicholas Humphreys, increasing the footprint of our property franchise division, along with the strengthening of our long-term strategic partnership with The Nottingham Building Society through the acquisition of its mortgage business, Nottingham Mortgage Services Limited.  Both acquisitions will be highly accretive in 2021 and demonstrate the Board's commitment to enhancing shareholder value further."