Whitegates

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    TPFG kicks off huge property portfolio land grab

    The Property Franchise Group is acquired 3,000 properties via 16 property portfolio acquisitions it helped franchisees complete so far this year.

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    ‘Only strong letting agents will survive fees ban’

    Not many letting agents can say they have been able to buy up three rivals within three years of establishing their business from scratch. But that is what Angela Newark can claim after revealing today that she has bought the property management portfolio of sales and now former letting agent Martin Lonsdale in Saltaire, West Yorkshire, taking her managed stock to over 800 properties. In 2014 she cold-started a Martin & Co franchised branch in Saltaire but then bought rival Village Estates in 2015 and then the Keighley office of Whitegates in 2016 (pictured, below), also part of the Martin & Co family. Letting agents “I’m a beneficiary of the multi-brand strategy of The Property Franchise Group as I trade both as Whitegates and Martin & Co,” she says. “Central office assisted me with the acquisitions and I’m looking at other businesses currently. I know agents are worried about the tenant fee ban, but the strong will survive, and my business is now set for further growth in 2018”, said Angela. The Property Franchise Group owns six franchised lettings brands including Martin & Co, EweMove, CJ Hole, Ellis & Co, Parkers and Whitegates and operation nearly 300 branches. The detail of the tenant fees ban…

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    What went wrong? Belvoir reveals merger with TPFG DID have green light

    Belvoir has responded to the brush-off delivered by The Property Franchise Group (TPFG) on 19th October which said the merger of the two businesses “would not be in the best interests” of TPFG. TPFG owns franchised lettings giant Martin & Co and online agency EweMove as well as CJ Hole, Ellis & Co, Parkers and Whitegates with a combined branch count of almost 300 and 50,000 tenanted properties. The board of directors at Belvoir says it is “disappointed” by the response and that the merger offer made by Belvoir was not an unsolicited one. Also, reading in between the lines of the statement,  TPFG appears to have led Belvoir to believe the merger offer would be well received. Belvoir merger with TPFG Belvoir says there was previously a “willingness to engage in discussions expressed to the Board on more than one occasion by TPFG”. The company says its merger offer was structured to reflect these discussions, which included issuing 0.7150 new shares per TPFG share and 52.2p in cash per TPFG share, but says the cash element of the offer could be reduced and the number of shares increased to reduce the cost of the merger. Belvoir also says it…

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    Five property firms rapped by Advertising Standards Authority

    An unprecedented five property companies including three agents and two developers had their adverts referred to the Advertising Standards Authority (ASA) during the run-up to the New Year. TV – Birch’s Group London-based park homes developer used photographs of an old site in a TV ad to promote a new development, which the ASA considered ‘misleading’. Birch’s Group, which has built and owns sites across the UK including in Hampshire, Cambridgeshire, Lincolnshire and Somerset, used images and footage from one of its Cambridgeshire sites to illustrate its Little London Park development in the TV ad. The company told the ASA that it ‘believed that the images and footage shown in the ad were an accurate representation of properties customers could purchase at their Little London Park site’. The ASA disagreed, saying it considered TV viewers would interpret the ad to mean that the featured properties were available to purchase at the Little London Park site and that they were ready for viewing at the advertised open weekend event promoted within the ad. The ASA also noted that one of the properties featured in the ad was ‘vastly different’ to the property available at the open weekend event. Online – Whitegates…

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