The latest stage of LSL’s ‘ways of working’ restructure of its business has been announced following the transfer of 39 Reeds Rains and Your Move branches to a company operated and owned jointly by two former LSL executives.
Nigel Favas (above, right), who already operates seven franchised Reeds Rains branches in Northern Ireland and was formerly its managing director for 29 years, has joined forces with former LSL executive director David Newnes to create a new business to include the transferred branches.
The speed of the Favas/Newnes deal is evident from paperwork lodged at Companies House. The pair set up a new entity to operate the business, National Home Move Ltd, based in Sale near Manchester, on the same day that LSL’s structure was announced.
The transfer of the branches means LSL’s network now consists of 144 directly-owned branches and 135 franchised ones.
All of Reeds Rains branches in Northern Ireland are franchised and therefore were not affected by LSL’s national restructure.
“I have continued to maintain a strong interest in both the Your Move and Reeds Rains brands and saw the chance to join Nigel as a franchisee as an opportunity to expand on this,” says Newnes (above, left).
“I am hugely excited about the future and about being part of the Your Move and Reeds Rains franchise community.”
Favas added: “I am very much looking forward to working with David again and to building on my experience of being a Reeds Rains franchisee in Northern Ireland. This is a great opportunity and one we intend to fully embrace.”