One of Belvoir’s youngest franchisees has self-funded the acquisition of an independent competitor.

Kuljeet Aujla, owner of Belvoir Hull, has successfully completed on the acquisition of Willow Estates, adding  Belvoir Grimsby into the network.

Aujla, 25, used Belvoir’s assisted acquisition programme to arrange the deal but funded it himself.

He joined Belvoir three years ago and will now run both offices.

Aujla said: “I am originally from Grimsby, and the agency I have bought is very well-established in the area, having been with the vendor for about 15 years, and the previous owner for ten years.

“Over the coming months we will gradually rebrand this new business to Belvoir Grimsby.

“The acquisition has added 290 rental properties to my portfolio, and I have retained two staff members who will be working with me in the Grimsby office.

“Until now, this agency had focused purely on lettings, but as with the Belvoir Hull office we will be offering the whole package – rentals, selling, buying, investment advice, insurance and mortgages. We will even do project management for any properties that need work.”

Dorian Gonsalves, chief executive of Belvoir, said: “Aujla is a very ambitious young entrepreneur and I am confident that his strong business background, positive approach and youthful enthusiasm will ensure that Belvoir Hull, which he launched as a cold start, and Belvoir Grimsby, which has been achieved through acquisition, will continue to make a real impact on the local property market.”