Industry News Centre

One of Belvoir’s youngest franchisees completes acquisition to create second territory in Grimsby

June 04, 2019 Kuljeet Aujla owner of Belvoir Hull has successfully completed on the acquisition of Willow Estates, adding a new territory of Belvoir Grimsby into the network.

Kuljeet Aujila

At 25 years of age, and one of Belvoir’s youngest franchisees, Kuljeet first joined Belvoir three years ago, having launched Belvoir Hull as a cold start. He is now looking forward to the challenges of running two offices.

This is a very exciting time,” said Kuljeet. “I am originally from Grimsby, and the agency I have bought is very well-established in the area, having been with the vendor for about 15 years, and the previous owner for ten years. Over the coming months we will gradually rebrand this new business to Belvoir Grimsby. The acquisition has added 290 rental properties to my portfolio, and I have retained two staff members who will be working with me in the Grimsby office.

“Until now, this agency had focused purely on lettings, but as with the Belvoir Hull office we will be offering the whole package – rentals, selling, buying, investment advice, insurance and mortgages.  We will even do project management for any properties that need work.” 

Although this acquisition was self-funded, it was facilitated by Belvoir’s Assisted Acquisition Programme, with a dedicated team at Central Office offering continuous support throughout every stage.

There was an awful lot of work involved in this acquisition,” acknowledged Kuljeet. “Belvoir did everything to help me, and I know I would not have been able to achieve this without the assistance of the Acquisition team at Central Office. They did all of the negotiating and due diligence etc, and I am extremely grateful for all the help that was provided.”

Speaking of Kuljeet’s success, CEO Dorian Gonsalves said: “I would like to congratulate Kuljeet on his acquisition. Kuljeet is a very ambitious, young entrepreneur and I am confident that his strong business background, positive approach and youthful enthusiasm will ensure that Belvoir Hull, which he launched as a cold start, and Belvoir Grimsby, which has been achieved through acquisition, will continue to make a real impact on the local property market.  

“Kuljeet’s acquisition demonstrates the amazing success of Belvoir’s Assisted Acquisition Programme, which is so pivotal in enabling our franchisees to develop their businesses by buying out competitors. Belvoir has many fantastic opportunities for acquisition currently in the pipeline, and we are actively seeking more. I would encourage any independent agents who are considering selling their business, or would like to discuss rebranding to Belvoir so that they can benefit from all of the advantages that a reputable franchisor can offer, to contact our Acquisitions Team for a confidential chat.”

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