Newton Fallowell, part of the Belvoir Group, has acquired Lovelle Estate Agency Ltd and Lovelle Bacons LLP. The privately owned, predominantly franchised estate agency business collectively referred to as ‘Lovelles,’ operates in Lincolnshire and the Humber region, adding a further 19 offices to the Newton Fallowell network.
Belvoir CEO Dorian Gonsalves said, “We are delighted to confirm the acquisition of Lovelles by Newton Fallowell. It is a third-generation family property business dating back to 1932, and adopted a franchising business model in 2006. In the year to July 2019 Lovelles was the largest agency in its region, delivering 1,425 sales transactions and managing 1,600 properties. Lovelles won the ‘Yorkshire and Humber Agency of the Year’ at the 2019 Negotiator Awards.
“The network of 19 branches extends north to Hull, east to Skegness and south to Lincoln. 12 branches are franchised, a further three set to be franchised to the branch manager by April.
Lovelles joins the Newton Fallowell Group, with three brands – Newton Fallowell, Goodchilds and Lovelles. 36 staff employed will be transferring to Newton Fallowell.