Belvoir Lincoln, one of the first franchises within the national network, has been sold following the retirement of previous owners, Paul and Sharon Collins.

The new purchaser is Yusuf Yegeneh, with former office manager Becci Munro also becoming a franchisee, responsible for day-to-day operations.

Belvoir Lincoln was first established by Paul Collins in 1996, after he completed his military service and wanted a new challenge. It has grown from a home-based business to a well-established city centre office, with a team of eight staff, who are all staying on.

He continued: “Being part of Belvoir has absolutely been the very best thing for me,” he said. “If it weren’t for Belvoir, Sharon and I wouldn’t be in the position that we are now. All that we have achieved with Belvoir means we can head into retirement with no worries, and that’s a wonderful feeling.

“We have successfully navigated so many changes over the years, including the credit crunch and the pandemic. We came through everything stronger, and I think in many ways that was due to the strength and commitment of our team. I would like to wish new owner Yusuf Yegeneh, and co-owner Becci Munro, every success for the future.”

Speaking of the resale, Yegeneh commented: “I’ve known Paul Collins for almost 15 years. My first company is Microbyte IT solutions, and we look after quite a few Belvoir offices including Lincoln. My vision is to make Belvoir Lincoln into a showcase franchise that takes the best of what we know about new technology and running efficient operations and merging this with the best of Belvoir Lincoln’s amazing property management skills.

“Belvoir Lincoln already offers amazing customer service, and their client retention is through the roof, with superb customer reviews. It’s exciting to imagine what we can do when we apply enhanced procedures and technology.”

Becci Munro, who has been at Belvoir Lincoln for almost 11 years, said: “I initially started as property administrator, was promoted to office manager and now I’m in this role. At times it’s been challenging, but always good, and I’ve enjoyed it. It’s really helped that I’m a familiar face to our landlords, who will be dealing with the same team and receiving the same consistent levels of service.

“We greatly value all our clients and will continue to market high-quality accommodation. Belvoir Lincoln has always had a philosophy that if we wouldn’t want to live in a property ourselves, we won’t rent it out, and that will continue.”

Yegeneh and Munro have many exciting and ambitious plans for the business.

“We want to become a centre of information for any landlords interested in discovering why Lincoln is a great place to invest, and give insights into the best investment areas,” said Yegeneh. “We want Belvoir Lincoln to be the first name that people think of when considering investing in Lincoln.”

He went on: “I’ve personally invested in Lincoln and would say that compared to other areas it represents an under-priced opportunity. If you go just a little further south you pay 20% more for smaller rental yields, so it’s attractive to first time landlords even if they don’t have as much investable capital. The Lincoln rental market is rife, and we receive five to ten applications per property, with 99% renting within a week so I believe that Lincoln should be at the forefront of any portfolio landlord’s investment strategy.”

Dorian Gonsalves, CEO of the Belvoir Group, said: “Paul and Sharon were fabulous representatives of Belvoir, and during the past 26 years have built a highly successful and respected business. They’ve also been incredibly helpful in researching and launching new initiatives that have ultimately benefitted the entire network. I am delighted that they have been able to build and ultimately sell an incredibly successful asset that will enable them to enjoy the very happy retirement that they so richly deserve.

“Sad as we are to say goodbye to Paul and Sharon, we are also delighted to welcome Yusuf and Becci. Their combined skill set, experience, and ambitions leave them perfectly placed to take Belvoir Lincoln into the next phase of its history. I have no doubt that they will be hugely successful in their future business plans.”