Independent agency snapped up by local franchise office

An independent agency managing 115 lettings units has been snapped up its local Belvoir franchise.

Tim Hughes, owner of Belvoir Newbury, has completed on the acquisition of Douglas & Simmons in Wantage.

Hughes, a former British Army officer, says: “I have been with Belvoir since 2014 and this is my second acquisition. Since then, I had been looking for further acquisition opportunities, and when I heard that Douglas & Simmons in Wantage was available, I thought it sounded ideal, as it borders the northern edge of the Newbury territory, with a nice crossover of outlying villages in the middle. 

“This acquisition has resulted in the creation of Belvoir Wantage, which is a new territory for Belvoir. 

“The previous owners had been doing residential sales for 30 years and started offering a lettings service in 2008, but now they wish to focus purely on sales again, so I have bought the lettings business. I will be employing the small team of staff in Wantage and there will be lots of opportunities for the two offices to support each other.”

He continues: “My team and I are visiting all the managed properties, getting to know them and the landlords and tenants, making sure that we’re able to deliver the very best management possible. The reaction has been very positive, with landlords assured that their properties will continue to be well managed, with rents paid on time.”

Speaking of the acquisition, Belvoir Group chief executive Dorian Gonsalves says: “Tim has created a very successful franchise over the nine years he has been with Belvoir and is always looking for new opportunities to further grow and develop his business. This is a superb achievement, and I wish him every success for the future, as he continues to provide landlords and tenants with outstanding customer service. 

“In recent years the Belvoir Group has completed on 140 franchisee acquisitions. This acquisition and the launch of Belvoir Wantage is testimony to the consistent hard work and commitment that Tim and his team always provide to their clients.”