Franchise chain opens seventh office in the same county

June 8, 2021

Franchise giant Winkworth has opened a new office in the south west at Ferndown in Dorset.

The office has been opened by James Hadley-Clift, his second franchise in two years for Winkworth, following Southbourne on the outskirts of Bournemouth last year.

Related: Property and Estate Agent Franchises UK – What Buying an Estate Agency Franchise Means for UK Franchisees

Ferndown is the seventh Winkworth office in Dorset joining Southbourne, Westbourne, Poole, Milford-on-sea, Highcliffe and Mudeford.

Clift’s business partner at Ferndown is Rosella Short, who worked for five years with a London agent and is moving back to Dorset.

Related: Property & Estate Agency Franchises – Search Franchise Reviews Directory

Dominic Agace – chief executive, Winkworth – says: with 100 franchised offices nationwide, including 60 in London, said: “We now have a substantial presence in Dorset and Ferndown opening reinforces our ambitions for further expansion in the south west. We are keen to talk to independent agents or those who would like to start their own businesses in the region.”

Source: Letting Agent Today

EweMove takes over nearby franchise agency and lettings book

January 11, 2021

A EweMove branch has acquired a nearby Martin & Co operation, including its portfolio of 150 managed properties.

Both firms are owned by parent company The Property Franchise Group.

The deal sees two members of staff from Martin & Co in Salisbury join the EweMove operation based in Winchester.

Related: Property and Estate Agent Franchises UK – What Buying an Estate Agency Franchise Means for UK Franchisees

EweMove franchise holder Malcolm White says: “Having launched EweMove in 2016, the business has enjoyed lots of successes from a standing start and we’ve helped lots of local buyers, sellers, landlords and tenants. But to see the business grow in this way is hugely exciting – particularly as Martin & Co is an agency with such an established reputation in the area.”

Related: Property & Estate Agency – Search Franchise Reviews Directory

He continues: “Our EweMove business is very much based on a genuine passion for property and an absolute commitment to customer care. We’re hugely excited about the year ahead and look forward to helping more people locally with their property plans.”

The Property Franchise Group is currently in talks concerning a possible takeover of Hunters.

Related: EweMove Franchise

By Graham Norwood

Source: Letting Agent Today

Belvoir completes milestone acquisition

October 16, 2020

Belvoir Group, the UK’s largest property franchise, has successfully completed the 100th transaction under its Assisted Acquisitions programme, which forms a major part of the firm’s growth strategy.

The Assisted Acquisitions programme, established in 2013, has now supported 100 acquisitions by its franchisees, with a total deal value of £25m, boosting franchisee network revenue by around £24m.

Belvoir chief executive Dorian Gonsalves commented: “I am delighted that the Belvoir Group has been able to successfully help our franchisees to acquire 100 independent businesses since the launch of our specialist acquisition programme in 2013.

Related: Property and Estate Agent Franchises UK – What Buying an Estate Agency Franchise Means for UK Franchisees

“Helping franchisees to develop their businesses through acquisition remains a strong growth strategy for Belvoir and this milestone is a superb achievement by our inhouse Acquisition Team who work so hard to research, source and assist franchisees with the funding of viable opportunities.

“The team have helped franchisees from across all of our brands to develop and grow their businesses, achieving a total acquisition deal value of £25m. In addition, it should be noted that 100 independent agents from all across the country have been able to complete on an exit strategy that has enabled them to realise their assets, safe in the knowledge that the business they are selling will be operated by highly professional agents who have access to all the back-up they need from our franchise support team at central office.”

The 100th transaction was undertaken by Mahomed Imtayas of Northwood Wolverhampton, who has acquired Millenium Properties, adding 250 managed properties to his portfolio.

Related: Belvoir Franchise

Gonsalves added: “I am absolutely delighted for Mahomed, who I met during his training course at central office. I was very impressed by his enthusiasm and commitment, and also his determination to build a business that he can then pass on to future generations of his family. I am confident that Mahomed will make a great success of this business opportunity, which has enormous potential for further growth.”

Belvoir Group is on a post-lockdown acquisition trail according to its CEO, Dorian Gonsalves.

He continued: “Many franchisees across the Belvoir, Northwood, Newton Fallowell and Lovelle brands are actively seeking to expand their businesses through acquisition, with some already completing on multiple business transfers that have doubled the size of their portfolio overnight.

“I would urge any independent agent who is considering the sale of their business, no matter what size this may be, to contact a member of our acquisition team for a discussion about how we may be able to help them realise their ambitions.”


Source: Property Industry Eye

Belvoir CEO delighted housing restrictions have been lifted and expects quick lettings bounce back

May 17, 2020

Belvoir Group PLC’s (LON:BLV) Dorian Gonsalves says the re-opening of the housing market by the government has come earlier than expected.

The ban on people moving and renting houses was lifted on Wednesday, two months after the lockdown was introduced but a month earlier than it was budgeting for.

Related: Property and Estate Agent Franchises UK – What Buying an Estate Agency Franchise Means for UK Franchisees

Gonsalves expects a swift recovery especially on the lettings side as this is a fast-moving market and people might have been fed up with their house during lockdown, while landlords will be keen to get voids filled as soon as possible.

Belvoir has also so far seen a far lower level of arrears than it predicted when the lockdown was introduced.

Related: Belvoir Franchise

Gonsalves adds it did not lose one franchise to financial distress during the lockdown period, underlying the strength of its network.

By Andrew Scott

Source: Proactive Investors

Belvoir Profit Rises In 2019 But Decides Against Final Dividend

April 4, 2020

Belvoir Group PLC on Monday said it will not be paying a final dividend for 2019 despite profit growth, as Covid-19 is expected to hurt its 2020 performance.

The property franchise said pretax profit in 2019 increased to GBP5.6 million from GBP5.5 million a year ago, as revenue grew by 43% to GBP19.3 million from GBP13.4 million.

Related: Property and Estate Agent Franchises UK – What Buying an Estate Agency Franchise Means for UK Franchisees

However, Belvoir noted its administrative expenses jumped to GBP7.6 million from GBP6.6 million year-on-year.

The company said Covid-19 is expected to have a “significant” impact on trading in 2020 and therefore it has decided against proposing a final dividend for 2019.

Related: Property & Estate Agency Franchises – Search Franchise Reviews Directory

For 2018, the company paid a total dividend of 7.3 pence, while interim dividend for 2019 totalled 3.4p.

“Whilst 2020 will be adversely affected during the period of economic inactivity due to Covid-19, the group has achieved a very good set of results for 2019, with outstanding revenue performance, having overcome the twin challenges of the tenant fee ban and the economic and political uncertainty surrounding Brexit,” said Chief Executive Dorian Gonsalves.

Related: Belvoir Franchise

AIM-listed Belvoir shares were trading 6.4% lower in London on Monday at 94.98p each.

By Evelina Grecenko

Source: Morningstar

Franchise giant Winkworth snaps another independent

March 21, 2020

Franchise giant Winkworth has expanded its presence in Reading with the acquisition of a local independent lettings agency.

It’s snapped up AMPM, adding a portfolio of over 80 landlords to its lettings business, with flats and houses within a five mile radius of the Winkworth office in the town centre.

Angela Cox, owner of AMPM, will work the new owner as a consultant.

Related: Property & Estate Agency Franchises – Search Franchise Reviews Directory

Dominic Agace, Winkworth chief executive, says: “This latest expansion reflects our growth plans in the Home Counties. We are also keen to talk to independent agents or those looking to launch their own businesses in the wider home counties region.”

Source: Letting Agent Today

Property Franchise Group shares rally over 8% on modest progress

February 1, 2020

Property Franchise Group (LON:TPFG) saw its shares rally during the Tuesday session, after posting modest progress for the financial year ended 31 December 2019.

The company’s statement to its shareholders read,

“The Group has successfully navigated a difficult year for UK residential property and performed in line with market expectations, delivering growth in both revenues and management service fees. Our franchisees successfully mitigated much of the impact of the tenant fee ban and achieved a record performance for lettings revenue. The Group’s hybrid brand, EweMove, is also anticipated to show another significant improvement in profit over the prior year.”

Property Franchise Group said the challenging conditions owed somewhat to the impact of the Tenant Fee Ban, which was passed in June 2019, alongside wider macroeconomic forces.

Related: Property and Estate Agent Franchises UK – What Buying an Estate Agency Franchise Means for UK Franchisees

Despite the difficult backdrop, the group reported year-on-year growth in overall revenue, from £11.2 million, to £11.4 million. Alongside this, the company’s Management Service Fees rose from £9.4 million to £9.6 million, and the number of tenanted managed properties serviced increased from 55,000 to 58,000 during the same period.

The company added that during FY19, its assisted acquisitions programme supported 24 acquisitions by franchisees and added 2,381 managed properties. It continued, saying that it had continued to invest in technology, and that its pay-per-click campaign via the traditional high street brands’ customer websites, had seen a 54% increase in leads, up to 47,000.

It appears TPFG have managed to place themselves among the ranks of the successful, in spite of the adverse conditions which have unsettled some of their equally established counterparts.

AFI Development (LON: AFRB), for instance, pointed to “challenging market conditions” as the reason for their underwhelming performance. The Russia-focused company said its fall in profits and residential sales could be attributed to the state of the domestic economy.

Likewise, Schroder Real Estate Investment Trust (LON: SREI) also complained about the backdrop of a ‘challenging market’, which saw its NAV contract and prompted it to adjust its strategy.

Property Franchise Group comments

The company’s Chief Executive, Ian Wilson, responded to the update:

“Our ability to deliver revenue growth and continued operational progress over the year, notwithstanding the market headwinds, is testament to the strength of our business and the franchise model.”

“Looking ahead, there are numerous opportunities for us to now build further momentum across the business, as we continue to invest in our traditional brands and EweMove remains robust. In parallel we will focus our attention on growing a national mortgage brokerage network under our newly created financial services division.”

Related: Property & Estate Agency – Search Franchise Reviews Directory

“This is my last year with TPFG and I’m delighted that we have continued the journey that we started with our IPO in December 2013, having materially increased the dividend every year. We are dedicated to continuing to create value for all our stakeholders and are confident we will continue to do so in the year ahead.”

Investor notes

Property Franchise Group shares rallied 8.37% or 18.00p, to 233.00p per share at the end of the Tuesday session 28/01/19 17:08 GMT.

Looking ahead, the company said,

“Early indications of improving market conditions underpin our expectation that the volume of house sales should increase in 2020. The lettings market is also anticipated to remain healthy, with rising rents and increased confidence leading to more opportunities for the Group’s franchisees to acquire competitors’ books than were available in 2019.”

“Post period end, the Group announced the launch of its “buy and build” Financial Services division and the appointment of Mark Graves to the new role of Financial Services Director.”

No broker forecasts were available for this stock, but the group’s p/e ratio stands at 16.17, and their dividend yield is agreeable at 3.61%.

By Jamie Gordon

Source: UK Investor Magazine

EweMove and Martin & Co parent firm sets up mortgage arm

January 22, 2020

The Property Franchise Group – which operates five High Street agency brands and the EweMove hybrid – has set up a financial services division.

It looks set to handle mortgages for the agency brands to offer clients.

TPFG has told its shareholders that it intends to pursue a “buy and build” strategy to develop this new division, targeting the acquisition of “quality financial services businesses which are relevant to the group’s core business.”

Related: Property and Estate Agent Franchises UK – What Buying an Estate Agency Franchise Means for UK Franchisees

This division will operate as a subsidiary TPFG and will service its existing franchisees.

“This strategy seeks to enable the [new] division to capitalise on the significant volume of leads generated by the core business, whilst the property franchisees are able to generate further revenue without adding to fixed overheads” says the franchise giant.

Related: Property & Estate Agency – Search Franchise Reviews Directory

Financial services will be available as a new franchise opportunity, with TPFG holding the master franchise rights and delivering to its franchisees a separate financial services brand, back office systems, a supply of “whole of market” mortgage products and a compliance function.

To kick start the division, TPFG has acquired a 72.25 per cent stake in Auxilium Partnership Limited, a protection advisory business.

Related: EweMove Franchise

Auxilium Partnership was launched by Mark Graves in March 2019 with the aim to enfranchise, educate and encourage intermediaries, such as mortgage brokers, to develop their protection business.

It’s been announced that Graves, who has 30 years experience in life assurance, will now lead TPFG’s financial services division.

By Graham Norwood

Source: Estate Agent Today

Property Franchise Group launches financial services division with “buy and build” strategy

January 16, 2020

The Property Franchise Group has launched a financial services division with a pledge to “buy and build”, by acquiring financial services businesses with direct FCA authorisation.

Mark Graves, who is an income protection insurance expert, has been appointed as financial services director, a non-board position at the group.

The group has acquired a 72.25% stake in Auxilium Partnership for a “non material sum”, which is protection advisory business launched by Graves in March 2019.

Auxilium Partnership will now sit under a subsidiary, Aux Group.

Ian Wilson, chief executive of The Property Franchise Group, said: “We are delighted to welcome Mark to the Group as financial services director.

Related: Property and Estate Agent Franchises UK – What Buying an Estate Agency Franchise Means for UK Franchisees

“His industry credentials are top drawer, and he has both the contacts and commercial acumen to help us identify the winners as we scale our broker network.

“With the knowledge that protection assurance sales are key in bringing about improved operating margins for brokers, we are very pleased to have a protection advisory business joining us as our first financial services acquisition.”

The group has plans to make financial services available as a franchise opportunity, with the group holding the master franchise rights and delivering to its franchisees a separate financial services brand, back office systems, a supply of “whole of market” mortgage products and a compliance function.

The Property Franchise Group currently manages the following estate agency brands: CJ Hole; Ellis & Co; Ewemove; Martin & Co; Parkers; and Whitegates.

Mark Graves has 30 years’ experience at a senior level in the life assurance sector.

Related: Property & Estate Agency – Search Franchise Reviews Directory

He has held roles as managing director at Sesame Bankhall Group, head of network at Pink Network and managing director at Linear Financial Services.

Graves has long been a proponent for income protection insurance, and therefore it’s likely the businesses within the group will be expected to embrace protection.


Source: Property Wire

Century 21 celebrates opening six new offices in the UK

December 25, 2019

The UK wing of American franchising group Century 21 has opened three new outlets in the last six weeks and has a further three due to open in the New Year.

Century 21 UK has opened in Hackney, London, and Leicester, while an existing franchisee in Cobham and Esher, Surrey, has acquired south-west London estate agency group Jezzards, converting the pipeline of business into two estate agents now rebranded as Century 21 Luxe Residential.

Related: Property and Estate Agent Franchises UK – What Buying an Estate Agency Franchise Means for UK Franchisees

The purchase of Jezzards by business owner Dylan Mollison-Coulsen of Century 21 Luxe Residential, pictured below, is the largest acquisition within the UK network .

Vikram Selvarajan is owner of the new Century 21 Hackney office while brothers Jason and Anthony Barana are joint owners in Leicester.

Related: Property & Estate Agency Franchises – Search Franchise Reviews Directory

The three new openings scheduled for the New Year are all in London – Heathrow, Ealing and Hammersmith. The Hammersmith office will be called Century 21 Prestige.

The master franchise for Century 21 UK is held and operated by SDL Group.

Related: Century 21 Franchise


Source: Property Industry Eye