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Belvoir Group PLC - Strategic Estate Agency Alliance

RNS Number : 4603S
Belvoir Group PLC
09 July 2020
 

For immediate release

9 July 2020

 

 

 

BELVOIR!
             

BELVOIR GROUP PLC

(the "Group", or "Belvoir")

 

Strategic Estate Agency alliance with The Nottingham Building Society

Belvoir Group PLC (AIM:BLV), the UK's largest property franchise, today announces that it has entered into a strategic alliance with The Nottingham Building Society ('The Nottingham' or the 'Society'). The alliance will see Belvoir's established network of franchisees, trading under the brands Belvoir, Northwood, Newton Fallowell and Lovelle, extending their estate agency and lettings services to new locations sited in co-branded existing building society branches.

Under the agreement, the vast majority of The Nottingham's estate agency and lettings activity will transfer over to the Belvoir Group and the Society will cease trading as its own estate agency and lettings operation for new business by the end of August 2020.

Franchisees within the Belvoir Group will have the opportunity to offer The Nottingham's members high quality estate agency services, either from existing building society branches or from Belvoir's stand-alone offices throughout the UK.  In the first instance this opportunity will be extended to a number of franchisees to increase their footprint by taking a presence in up to eleven of The Nottingham branches, to be co-branded, based in Nottingham, Leicester and Cambridge.

Dorian Gonsalves, Chief Executive Officer of Belvoir Group, said:

"This strategic alliance represents a very exciting and mutually beneficial opportunity for both the Belvoir Group and The Nottingham, and is expected to pave the way for further joint initiatives in the future.

"I am confident that this innovative alliance will prove to be a great success, as Belvoir and The Nottingham already share many core principles, including a determination to ensure that the customer remains very much at the heart of all aspects of the business."

 

The person responsible for arranging the release of this information is Louise George, Chief Financial Officer of the Company.

 

For further details:

Belvoir Group PLC

Dorian Gonsalves, Chief Executive Officer

Louise George, Chief Financial Officer

www.belvoirgroup.com  

 

 01476 584900

investorrelations@belvoirgroup.com

finnCap

Julian Blunt, Teddy Whiley (Corporate Finance)

Tim Redfern (ECM)

www.finncap.com

 

+44 (0) 20 7220 0500

Buchanan

Charles Ryland, Victoria Hayns & Tilly Abraham

 

 +44 (0) 20 7466 5000

     

Notes:

About Belvoir Group PLC

Founded in 1995 and listed on AIM in 2012 (BLV.L), Belvoir operates a nationwide property franchise group with 396 offices across five brands specialising in residential lettings, property management, residential sales and property-related financial services. With its Central Office in Grantham, Lincolnshire, the Group manages 68,550 properties and reported record revenues of £19.3m in 2019 making Belvoir the largest property franchise group in the UK.

 

For further information, please visit: www.belvoirgroup.com

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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Quick facts: Belvoir Group PLC

Price: 145.25

Market: AIM
Market Cap: £51.01 m
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