Belvoir Lettings acquires four lettings agencies

Belvoir Lettings has acquired four lettings agencies based in England's Basingstoke and Andover.

Belvoir Lettings has acquired four lettings agencies based in England's Basingstoke and Andover.

The UK letting company purchased Claygold, which trades as Redwoods from one branch in Andover and three in Basingstoke.

Redwoods letting business will be sold on to the two existing Belvoir franchise businesses in Basingstoke and Andover. The vendors who have worked in the business for more than 20 years are retiring.

Shares of Claygold were acquired for £1.5m and net assets within the companies are not expected to exceed £0.1m.

"We are delighted to be announcing the acquisition of these four agencies, which have substantially increased our network turnover and addressable market," said Chief Executive Officer, Dorian Gonsalves.

"The transaction opens up opportunities in South England and the home counties, a key strategic territory in our growth plans and is a major step in our acquisition plan."

RD

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021
Why we won’t see a house-price crash in 2021
House prices

Why we won’t see a house-price crash in 2021

Lockdown sent house prices berserk as cooped up home-workers fled for bigger properties in the country. And while they won’t rise quite as much this y…
18 Jan 2021
It's not just the UK – we're seeing pandemic housing booms across the globe
Property

It's not just the UK – we're seeing pandemic housing booms across the globe

Soaring house prices aren’t just a UK thing, they’re a worldwide phenomenon. And it’s no coincidence – the underlying cause is much the same. John Ste…
18 Jan 2021