Martin & Co today confirmed it is rebranding as the Property Franchise Group, stressing the name will encompass lettings and  sales.

The new launch  is being heralded at the UK Franchise Exhibition, taking place today and tomorrow in Birmingham.

The re-brand follows Martin & Co’s purchase, for an undisclosed sum, of the Xperience group of brands from Legal & General.

CEO Ian Wilson said: “We floated Martin & Co on the stock market and it became MartinCo Plc. But after we acquired the four brands of CJ Hole, Ellis & Co, Parkers and Whitegates we felt it made sense to use a trading name that better explains our business model, which is to be the dominant owner of multiple property franchise brands in the UK.

“Our parent company name will remain MartinCo Plc as this is how city investors know.

“We wanted to shift from the ‘Martin & Co’ label to an umbrella term that gives equal balance to all our brands, and acknowledges that we are a Group that is moving towards traditional estate agency.

“This is a fast-growing business in all departments and our next goal is to reach a network of 500 offices by 2018, including organic growth and the acquisition of more brands.

“As such The Property Franchise Group is, even at this very early stage, a testament to the ambition of our brands, our franchise owners and our financial strength since flotation.”

Wilson said that the Property Franchise Group, headquartered in Bournemouth,  consists of five estate agencies across England, Scotland and Wales: CJ Hole, Ellis & Co, Martin & Co, Parkers, and Whitegates. The network overall operates as nearly 300 independently-run offices managed by over 240 franchisees.