Your Move and Reeds Rains have confirmed that 39 branches are to be taken over by David Newnes and an existing franchisee, Nigel Favas.
Newnes was, until his departure in 2014, executive director of the estate agency side of LSL, the parent company of Your Move and Reeds Rains.
The news follows the announcement last month that of the 400 or so LSL Property Services branches, some 124 will close while many others will be sold off to become franchises.
Favas - who already successfully operates seven franchised Reeds Rains branches in Belfast and was previously managing director for Reeds Rains - will be joined by Newnes in operating a new franchise business comprising the 39 branches.
The pair have also appointed managers to run the business alongside them; all come from within Your Move and Reeds Rains.
The total number of Your Move and Reeds Rains franchised branches has therefore increased from 96 to 135.
David Newnes comments: “I have continued to maintain a strong interest in both the Your Move and Reeds Rains brands and saw the chance to join Nigel as a franchisee as an opportunity to expand on this. I am hugely excited about the future and about being part of the Your Move and Reeds Rains franchise community.”
Meanwhile Helen Buck, LSL’s executive director for estate agency, says: “We are delighted that, as part of our planned changes, we have been able to complete the franchise agreement with Nigel and David which builds on their long association with LSL. We look forward to continuing to work with them - and their teams - in the future.”