Belvoir has reported good results for last year in a trading update.

The firm, which started off purely in lettings but now offers sales, says that revenue from property sales grew from £0.8m in 2014 to £1.4m last year.

The ratio of revenue from lettings to sales is now 77%:23%.

It recruited 11 new franchisees last year, including seven into new territoris.

Last year Belvoir acquired Newton Fallowell in July and Goodchilds in October, and now operates a multi-brand strategy.

By the end of last year, the group had 213 offices (up from 162 the year before), of which 168 are branded Belvoir, 31 Newton Fallowell and 14 Goodchilds.

The update says of the Chancellor’s intention to alter the tax treatment of landlords that in the areas where Belvoir operates, increased Stamp Duty will have little or no impact when investors factor in capital gains and positive annual returns.

Belvoir also hints that it is still in the market for further acquisitions.