Belvoir acquires personal estate agency Mr and Mrs Clarke

11th Mar 2022 08:11

(Sharecast News) - Property franchise group Belvoir has acquired Mr and Mrs Clarke Limited for an initial cash consideration of £200,000, funded from existing resources.

Belvoir said on Friday that the acquisition of MMC, a specialist concierge-style personal estate agency, will introduce a "high-quality personal agency model" to the group that was complementary to its existing high street brands.

The acquisition, which contains a possible additional deferred element, will offer customers a wider choice of how they interact with the group, whilst operating in a very similar way as a franchise business.

Belvoir said it will be able to expand MMC's reach through an increased lead flow of potential partners, while the AIM-listed firm will receive additional revenue streams from extending service offerings to include financial services and lettings.

Chief executive Dorian Gonsalves said: "The acquisition of Mr and Mrs Clarke provides the Ggoup with a new service offering, which will recognise the breadth of ways in which our customers want to interact with their estate agent and the different ways in which potential new franchisees or partners want to operate.

"Paul and Alex have created a really positive, vibrant brand that stands out from the crowd. The future success of their business will benefit from the credibility that the Belvoir Group can bring and we extend a warm welcome to the MMC team, and look forward to working alongside their partners to further strengthen the business' growth potential."

As of 0810 GMT, Belvoir shares were flat at 245.0p.