Belvoir aims to acquire agencies that are leaving the lettins sector when the ban on fees comes into effect in England. Belvoir has already announced this to its shareholders, and the ban is expected to to happen something next year.
In a brief trading statement ahead of full year-end figures on April 10, Belvoir - the UK’s largest property franchise company - says its performance for 2017 is set to be in line with market expectations.
During the year it saw its management service fee income increase 22% and its group revenue rise 13%.
The Belvoir group now represents over 58,000 managed properties (up from 55,756 in 2016) and had a year-end bank balance of £1.3m after the recent £1.5m acquisition of Brook Financial Services had been settled in cash.
There were 23 new franchisees acquisitions during the year.
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