Acquisitions double revenues for Bournemouth’s Property Franchise Group

The Property Franchise Group, a multi-brand property franchisor, has released a trading update for the past six months showing triple-digit growth.

The group posted half-year revenues of £26.9 million – up 104 per cent from £13.2 million in the first half of 2023 – and has almost doubled the number of rental properties it manages, now at 152,500.

This is largely down to a merger with Belvoir in March, which accounts for £12.2 million of the group’s half-year revenues, as well as the acquisition of GPEA Limited, contributing a further £1.0 million.

The integration of both firms into the broader group is ‘progressing well’, with the restructuring of the senior leadership team largely complete.

CEO Gareth Samples said: “The first half of 2024 has been transformational for our group, building on our track record of growth and completing two significant acquisitions which has created a substantially larger group with an international presence.

“We’re delighted with our organic revenue performance in the first half year and the contributions from each of our new businesses.

“We have a very resilient and focused franchise model and multiple income streams across 18 brands including a significantly enhanced, exciting opportunity in financial services.

“With an improving pipeline and at least one interest rate reduction behind us, the board is confident that trading remains at least in line with market expectations for the full year.”