Amjed Rasul, owner of Belvoir Inverness, has acquired the residential lettings portfolio of a local agency and Mike Campbell of Belvoir Falkirk has also bought out a local lettings business.
“I am delighted that we have successfully completed the acquisition of a residential portfolio from a well-established local business,” says Amjed, who launched the Belvoir Inverness office five years ago. “We started negotiations in early January to establish compatibility of the residential portfolio for our business. With the help of the acquisition team at Belvoir’s Central Office we managed to complete the transaction in about a month.”
Belvoir has ambitious growth plans for 2013 and is currently processing several other acquisitions with offices all around the UK. CEO Dorian Gonsalves says: “As part of Belvoir’s growth strategy we are now proactively targeting key competitors. Belvoir’s flotation onto the London stock market one year ago has enabled us to help franchise owners to acquire competitors within their territory, and if it is the right opportunity we can also provide assistance with funding.”
Belvoir Lettings now have more than 150 offices nationwide.