Agency hails “transformational” merger with lettings giant

The Property Franchise Group, which calls itself the UK’s largest multi-brand property franchisor, says its merging with lettings giant Belvoir has been “transformational”.

Non-executive chairman Paul Latham has told the TPFG shareholders’ annual general meeting that the move to absorb Belvoir, along with last week’s acquisition of The Guild of Property Professionals and Fine & Country, have transformed the group. 

He says: “Our longstanding businesses have traded in line with our growth objectives. Notably, their lettings’ revenues have continued to grow at similar rates to last year and the sales-agreed pipeline at 30 April 2024 was 20% up on the same period in FY23, signalling a much stronger sales market so far in FY24.

“We now have one of the most experienced management teams in the sector with a broad set of complementary skills and an unrivalled expertise in both franchising and licensing. This extensive experience will help us to both integrate and leverage our breadth of capabilities to enhance revenues across the businesses.

“We are cognisant of the pending General Election which may impact the sales market’s recovery over the summer as well as some broader headwinds. Notwithstanding these uncertainties, we are confident of driving our organic growth, delivering the expected synergies from our recent acquisitions and developing new additional revenue streams. 

“For these reasons, the Board looks to the future with confidence and excitement about the further value we can deliver for all stakeholders from our increased scale and ongoing ambition.”