Sky Is The Limit For High Flying Lettings Agency In just over 19 months of trading, Michael Keyw...
Sky Is The Limit For High Flying Lettings Agency
In just over 19 months of trading, Michael Keywood’s new start business has prospered to become one of the leading letting agencies in Mansfield.
Michael opened Belvoir Mansfield in October 2014 in small premises suited to a fledgling business. But in 2016 the business has found its wings, moved to larger premises and is soaring.
The high profile location of the smart-look new Belvoir office on Albert Street in Mansfield puts Michael and his team right at the heart of the business community.
“I’ve been looking for new premises almost from day one when we started working out of offices in the Brunts Business Centre on Woodhouse Road,” he says. “A high street presence is quite an important factor for a lettings business so I am delighted with the relocation to Albert Street.
“In the last year alone the business has grown by around 50 per cent and, overall, 20 per cent since taking on the franchise. As we go into summer, growth is continuing with figures, month on month, being consistently +40 per cent over last year.”
These are healthy figures that last year helped Michael take second place in the Mansfield 20/20 Business Club ‘New Business of the Year’ award.
As a third generation property professional, Nottingham-born Michael brought some knowledge of lettings to his venture. His grandparents and parents are all successful long term landlords, specialising in residential buy-to-let with a combined portfolio of up to 400 properties in the Mansfield and Sutton-in-Ashfield areas.
“Having ‘bricks and mortar in my blood’ has helped me to recognise the on-going potential of the lettings market in Ashfield and Mansfield, and it’s very strong,” he adds.
“The main demographic has changed since 2011 with an increase in the numbers of young people looking for rental property and other growth fuelled by an influx of migrants.”
“Property prices remain stable and rising steadily - maybe not as fast as other areas of the country - but rising nonetheless. This has continued to reinforce the fact that the area offers affordable and attractive investment opportunities.
“In addition the average tenancy is around 22 months. Investors from various parts of the country, particularly London, are seeing the benefits of moving their investments to this area where returns are solid and stable.”
Although he does have the benefit of advice from his family, Michael believes one of his wisest decisions was to launch into the property market with a Belvoir franchise.
“Belvoir has more than lived up to my expectations. The new branding and on-going initiatives are proving to be fantastic tools against competitors,” he says.
“In this current climate, where economic and political changes have impacted the market in so many ways, a recognised national brand is a valuable asset to couple with local independence and knowledge.”
Michael celebrated the Belvoir Mansfield move to new premises with a reception for his landlord clients and local dignitaries including Miss Mansfield and Sherwood Forest Amy Beilby and the Mayor of Mansfield Kate Allsop who was given the honour of officially declaring the new premises open.
Pictured L to R are Miss Mansfield, Amy Bielby, Elected Mayor Kate Allsop and Michael Keywood, Director of Belvoir Mansfield.