Until recently, Belvoir's strategy was to specialise in lettings services through its own outlets and through franchised offices trading under the brand. Each franchisee pays an initial fee to Belvoir, plus an on-going management service fee which is a percentage of monthly revenue. However, last year the company branched out and established an estate agency arm.
The company said
In a separate deal, the company said its Grantham office has been acquired by the existing franchise owner of the Belvoir Bourne and Belvoir Spalding agencies. This is in line with the company's strategy to reduce corporate-owned offices by franchising out.
The deals follow the shock departure of its newly-appointed chief executive,
The lettings specialists said Executive Chairman
Belvoir shares were quoted up 0.4% at
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