Just four months after purchasing a second Belvoir territory in Reading, Rob Forsyth and Jacob Felix from Belvoir Tadley have completed on the acquisition of Patrick Williams, a well-established independent agency.
Patrick Williams, established since 1945, is the second oldest independent agency in Reading,” according to Felix. The previous owner, who is retiring, started his career there at the age of 16 and purchased the business in 1991.
“Patrick Williams has two offices – one in Tilehurst and a second in Pangbourne.
Felix commented: “Pangbourne is a small village with extremely high value properties – up to the £3m price mark, which we will be utilising ‘The Belvoir Collection’ to market, whilst Tilehurst covers a broad spectrum of properties from £1m, right down to the lower end of the market at around £150,000.
“Rob and I are delighted that the team at Patrick Williams, who have been there for 10 years plus, and have a fantastic online reputation, will be remaining with us. The high levels of customer service delivered by everyone at Patrick Williams will remain unchanged, and landlords and tenants can expect business as usual, but we are confident that over time Rob and I will be able to utilise our skills and experience to grow the business and make it even more efficient.
“The previous owner had several options to look at when it came to selling his business, but he liked the fact that Rob and I work well together, and our Tadley business also had a good online reputation.
In addition, because we operate under the Belvoir franchise model, we can give the business and the team all the support that is required. We were delighted when Richard decided to sell the business to us, and very grateful to the Acquisition Team at Belvoir’s Central Office for all their help.
“This is our sixth year of running Belvoir Tadley and our first acquisition, but it is a big one and means that we now operate across two franchised territories with three franchised offices. We have taken on about 154-160 additional rental properties, but the sales side of the business is very exciting. Rob and I are delighted that the acquisition has completed, and our ambition now is to become the first Belvoir territory to achieve a million pounds per annum of turnover purely from sales!”
Speaking of the acquisition, Belvoir CEO Dorian Gonsalves said: “Rob and Jacob have been business partners for many years, and have done extremely well, winning many industry awards. However, they are both very ambitious and innovative entrepreneurs, and from the early days recognised that the best way for them to further achieve their business goals was to acquire a second territory. I am delighted that they not only recently secured the Belvoir Reading territory, but have now completed on this substantial acquisition, which will open a whole world of new business opportunities.
“Belvoir remains committed to its highly successful Assisted Acquisition Programme, helping franchisees to identify viable opportunities, and supporting them throughout the entire process.”
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