Belvoir Stone and Stafford has changed hands following a franchise resale.
Property investor and former finance director David Slann has acquired the estate agency. He takes control of its sales and lettings operation across Stone, Stafford and surrounding areas.
The existing team will remain with the business. The previous owners will also provide support following the handover.
Slann plans to grow the agency’s managed portfolio. He also wants to develop its residential sales operation.
Investment in technology, automation and the existing team also forms part of his plans.
Slann has previously invested in residential property across the Midlands and North East. His portfolio experience includes blocks and HMOs.
He has also undertaken residential redevelopment.
Slann said buying an established agency appealed to him more than starting a new operation.
“I’ve been investing in property for a number of years, mostly as a landlord and more recently as a developer, so the sector isn’t new to me,” he said.
“What was new was the chance to take on an established, well-run operating business rather than build something from scratch.”
Growth plans for agency
Slann’s background also includes working as a finance director.
He plans to use that experience to increase the agency’s focus on performance, systems and reporting.
“An agency has a lot of moving parts, and the businesses that do well are the ones that measure the right things and act on them quickly,” he said.
“My aim is to bring structure, better systems and clearer reporting without losing the personal service that people came to this business for in the first place.”
Regulatory change creates opportunity
Slann expects regulatory changes in the private rented sector to increase demand for professional property management.
“The lettings market is going through the biggest regulatory shift in decades,” he said.
“Landlords are increasingly deciding that self-managing is a challenge, and that plays directly to a professional agency that gets compliance right.”
Slann plans to expand the managed portfolio as the new regulatory framework takes effect.
He added: “I’d like the business to be the first call for landlords in the area who want to get things right, particularly as the new rules bed in.”
His experience as a landlord has also shaped his approach to the agency.
“The main lesson is that landlords don’t want surprises,” Slann said.
“Voids, slow arrears chasing and compliance gaps are what keep people awake, and most of it is avoidable with good process.”
He added that regulation was increasingly influencing landlords’ decisions over whether to use an agent.
Slann said Belvoir’s focus on lettings, compliance and training influenced his decision to join the franchise network.
Ellie Hall, group managing director of Belvoir, said: “David combines strong commercial experience with genuine first-hand knowledge of property investment.
“He has a clear understanding of the value an experienced agency can bring to landlords.
“What particularly impressed us was his focus on developing the business while protecting the strengths that have made Stone and Stafford successful, its people, relationships and local knowledge.”
