The UK’s largest property franchise celebrates a century of acquisitions, as Mahomed comes up trumps in Wolverhampton.
One company which appears to be making light of the current Covid-created difficulties in the business world is the Lincolnshire-based Belvoir Group. With their headquarters in Grantham, the Belvoir Group are the UK’s largest property franchise and they recently celebrated their 100th acquisition of an independent agency. This momentous milestone was achieved by Mahomed Imtayas who owns Northwood‘s Wolverhampton franchise. Mahomed’s purchase of Millenium Properties – also in Wolverhampton – adds another 250 properties to his ever-expanding portfolio.
Northwood, along with Newton Fallowell, Belvoir and Lovelle, are four successful brands which are owned by the Belvoir Group who collectively oversee almost 400 individual offices throughout the UK. In total, the number of properties under their management currently stands at more than 68,000. As for this latest success story, Mahomed is an experienced businessman who returned to the UK three years ago to run a recruitment company. He’d previously spent 20 years in Malawi managing a stationery business.
Mahomed said: “I have been a landlord and a tenant in the past, and I have my own rental properties both in Leicester and abroad. The training I have received has been excellent and being part of the Northwood franchise also provides me with access to the invaluable assistance they provide, as well as all the systems, marketing and legal support.”
Regarding his recent purchase, Mahomed added: “My daughter Anjum will be working with me as office manager, and we are also retaining two existing staff members at Millenium Properties. I am almost 60 years old now, but have always wanted to work in estate agency, so this is a dream come true and I wish it could have happened 20 years ago.
“This is a great opportunity to build a business that I can pass onto future generations of my family. It is also incredible to be recognised as the Belvoir Group‘s 100th assisted acquisition. Northwood already has a great name, a fantastic reputation and a unique product in its Rent Guarantee Scheme.”
The chief executive officer of the Belvoir Group, Dorian Gonsalves, is also delighted with the company’s recent landmark acquisition. He said: “I remember meeting Mahomed during his training course at central office and was very impressed by his enthusiasm and commitment. He was determined to build a business that he can eventually pass on to future generations of his family and I am confident Mahomed will make a great success of his business opportunity. It has enormous potential for further growth.
“Mahomed’s recent purchase means 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. Helping franchisees develop their businesses through acquisition remains a strong growth strategy for the Belvoir Group and this milestone is a superb achievement by our in-house Acquisition Team which works hard to research, source and assist franchisees with the funding of viable opportunities.
“Many franchisees across the Belvoir, Northwood, Newton Fallowell and Lovelle brands are actively seeking to expand their businesses through acquisition. Some have already completed on multiple business transfers that have doubled the size of their portfolio overnight.”
And Dorian had a message for all independent agents around the UK who may be interested in selling their businesses: “I would urge those who are considering the sale of a business, no matter what size, to contact a member of our Acquisition Team. We would happily discuss how we may be able to help them realise their ambitions. We recognise that negotiating and managing any business transfer is a complex process, but it is one that the team has worked hard to streamline over the years. We have strived to make all acquisitions as smooth and stress free as possible for all parties.
“And while it is important to celebrate Mahomed, let’s not forget that 100 independent agents from across the country have been able to complete on an exit strategy. This 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 the expertise of our franchise support team at central office.”
The final word goes to the managing director of the Northwood brand, Phil Gee, who said: “Many congratulations to Mahomed on the acquisition of Millenium Properties. This introduces Northwood to the Wolverhampton area and allows many more people to benefit from a range of unique services, including our Guaranteed Rent Scheme. Northwood has been working with Mahomed for quite some time, helping him to find the right business opportunity, and we are extremely happy to welcome him to the team.”
About Belvoir Group brands:
Belvoir (established 1995)
Historically a lettings franchise, Belvoir now offers both sales and lettings services and has nationwide coverage.
Newton Fallowell (established 1999)
This network is a leading property brand across the East and West Midlands.
Northwood (established 1995
Northwood also started as a specialist lettings franchise but now offers both sales and lettings.
Lovelle (established 2006)
Was originally a single office estate agent in Grimsby which became a franchise network 14 years ago, primarily offering sales.
Note: The Belvoir Group also own Brook which was established in 2010. Brook trades as the largest appointed representative of the Mortgage Advice Bureau (MAB), which is one of the UK’s leading networks for mortgage intermediaries. Brook manages a team of 48 mortgage and financial service advisers from their base in Barnsley, and has a network of 118 advisers who are primarily located in south Wales, the south west and the Midlands.
