Blvoir

Belvoir announces major acquisition

Belvoir has added a further 31 offices to its network by acquiring Newton Fallowell in the East Midlands. The deal to buy Newton Fallowell, one of the largest estate agents in the East Midlands, is subject to completion later this month but does look set to go-ahead. Dorian Gonsalves (left of picture), Belvoir’s Director of Commercial and Franchising, described the pending acquisition of Newton Fallowell, which has its head office in Grantham, plus a further 30 franchised offices in various locations around the UK, as a “golden strategic opportunity” for his company. The additional Newton Fallowell offices will bring the total in the Belvoir network to 193, which will put Belvoir firmly into the top five largest lettings and estate agency chains in the country, according to Gonsalves. He commented, “When Belvoir floated on the London Stock Exchange in 2012 we made a clear promise to our network and our investors that we would reach 200 offices before the end of 2016. With further acquisitions in the pipeline, this puts us well ahead of our target. “The opportunity for Belvoir to acquire Newton Fallowell represented a clear strategic fit with our acquisition policy, and there are obvious complementary strengths in…

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