BLV.L Share News (BLV)

Belvoir Letting has launched a new estate agency sales pilot trialling residential property sales for one year. The trial initially includes ten offices from a cross-section of Belvoir outlets across England, Scotland, Wales and Northern Ireland and will run an estate agency offering alongside their original lettings businesses.The group said it believes the pilot will "create organic growth prospects with cross selling opportunities for Franchisees" as well as providing new acquisition opportunities for sales and lettings businesses. Belvoir will assist the franchise owners to acquire their competitors while developing the network of company owned outlets.Chief Executive Officer Dorian Gonsalves said: "Most sales agents have a lettings business as a bolt-on service to their primary business but Belvoir will operate the other way round - as a lettings specialist that also offers a property sales service."Initially we anticipate that the majority of new vendors will be existing landlords and this new initiative will provide a strong addition to the high levels of service the group already offers to landlords as well as a supplementary revenue stream for Belvoir."The sales pilot is a very exciting new initiative for Belvoir and we look forward to reporting further developments as the trial gets underway."NR