Belvoir has completed on a £1m acquisition by franchisees Wai Lam and Nathan Crombie in Brighton.
“I am very pleased to confirm that Belvoir Brighton has completed on the acquisition of Homelets Brighton,” says Belvoir CEO Dorian Gonsalves. “Wai Lam and Nathan Crombie joined Belvoir in 2015, having bought the business from a franchisee. They possess all the qualities and ambition needed to transition from the journey of new franchisees through to securing a million pound acquisition in such a short time.
“This is a highly significant acquisition. Homelets Brighton, operational for 25 years, has tripled the size of their business, adding a further 339 properties to their lettings portfolio. Nathan and Wai also offer a residential sales service, I am confident that this acquisition will be of enormous benefit to the business, the brand and also to local landlords, tenants and investors. We wish them every success.”
Nathan said, “Wai and I have been looking for an opportunity to grow our business for some time, and when this opportunity was brought to our attention by the Belvoir acquisition team, it seemed ideal. We took time to get to know the business and understand what this would mean and we look forward to expanding our client base and working with new landlords and tenants.