Franchise giant takes first steps on Orkney Islands

The UK's largest franchise agency has expanded into the Orkney Islands. 

Belvoir's Amjed Rasul, owner of its Inverness franchise, has acquired Orkney Leasing, a fifteen year-old agency covering the Scottish Islands.

The acquisition has added 200 properties to Rasul's portfolio and was partly funded by Belvoir.

Rasul will take an active role in running the new franchise, while Orkney Leasing's three full-time staff will be retained.

The Orkney office will now be affiliated with the Association of Residential Letting Agents as well as the Property Ombudsman Scheme.

What's more, Rasul says that Belvoir will be introducing new software and technology to the agency and that it will be audited by Belvoir's central office.

“This was a unique opportunity,” says Rasul. “Orkney is a place that is very dear to me, and I always dreamed that one day I would end up here.”

“I am looking forward to taking this acquisition forward, and growing the business into an even more successful venture that will serve the people of Orkney.” 

He adds that he is looking for further acquisition opportunities in the future.

Belvoir's managing director, Dorian Gonsalves, commented: “I am delighted for Amjed. It is superb that after building a successful letting business in Inverness, he has taken the bold move to acquire a business in Kirkwall, which covers all of the Orkney islands.”

“Our dream is for Belvoir to offer a lettings service to landlords in all parts of the UK and this really is pushing the boundaries even further."

Last week, Belvoir filed its interim results to the City, reporting a strong six-month period of 'substantial growth'.

The firm's office network now comprises over 100 more outlets when compared to last year and pre-tax profits were up by over 65%.