Belvoir franchisee Lloyd Rumbold has completed on the resale of Belvoir West Bridgford, adding a fourth franchise to his portfolio of offices, which also includes a dedicated student lets business.

Rumbold, who worked in a Belvoir franchise for five years prior to becoming a franchisee in 2014, now owns Belvoir Mansfield, Belvoir Nottingham Central, Belvoir Nottingham West and Belvoir West Bridgford offices.

He said: “We actually considered buying Belvoir West Bridgford many years ago, but it wasn’t the right time then. However, when Belvoir West Bridgford recently became available as a resale, this seemed like a perfect opportunity for further business expansion. We have always got on well with the West Bridgford team, so whilst it was the right time for the directors to sell, the team were happy to stay on, which has been extremely helpful.

“Because we now own several franchises in the Nottingham area, I am able to allocate one team member to manage a landlord’s entire portfolio even if it is spread across different areas. We can now deliver a real one-to-one, personalised service rather than landlords having to deal with different agents.

“The four offices now have a huge, combined portfolio, and we also have the student lets side of the business. We have just taken on a purpose-built development of 66 apartments that is running as a PBSA – a dedicated student development with cinemas and gyms etc. We also manage many HMOs, which remain popular with students.

“The Nottingham property market is currently extremely busy. Due to selective licensing more accidental landlords are selling up as they realise that their property has now reached its maximum value for the next two to three years. However, those landlords who view their property as a long-term investment/asset rather than their second home repurposed, are now buying multiple properties in view of the greater available yields and strongest ever demand.

“Although investors are having to spend more to buy properties, history suggests that they are likely to increase in value, and in the meantime, they are receiving generous yields. This is an interesting time to be a landlord in Nottingham and we have been working hard on the sales and lettings side of the business – recently winning the Best Regional Real Estate Team, East Midlands in the Design and Build Awards 2023. We are very happy that the business is growing as we always intended.”

Speaking of this latest acquisition, Belvoir CEO Dorian Gonsalves, commented: “For me, one of the best aspects of franchising is when someone makes the transition from being a staff member to eventually buying the business that they have been working in. These stories are always inspiring, and Lloyd is a case in point, as since joining Belvoir as a franchisee in 2014 he has proved himself to be an exceptional leader with a proven record of operating a group of offices in and around the Nottingham area.

“Lloyd is young, highly driven and an incredibly professional lettings and sales agent, who is regarded as one of the best in the network. I wish him every success with this latest acquisition.”