The Property Franchise Group (TPFG), the UK’s largest multi-brand property franchisor, has reported a record year of trading, delivering strong organic growth across all divisions and ending 2025 with profitability expected to be slightly ahead of market expectations.
Group revenue for the year to 31 December 2025 rose by 25% to £84.3m, up from £67.3m in 2024, representing 9% growth on a pro-forma basis.
Recurring revenues accounted for 51% of total income, underlining the resilience of the Group’s business model. Net debt reduced sharply to £2.3m from £9.1m a year earlier.
Following the acquisitions of Belvoir Group and GPEA in 2024, FY25 was focused on delivering the revenue opportunities created by the enlarged Group’s scale across franchising, financial services and licensing.
FIFTEEN BRANDS
Franchising revenue increased by 16% to £47.5m, or 9% on a pro-forma basis. The division now operates across 15 brands, managing around 149,000 rental properties and completing more than 35,000 sales during the year.
Lettings management services fees rose by 14% to £21.6m, despite a challenging lettings market shaped by the Renters’ Rights Act and slower rental inflation of 4%. Growth was supported by the launch of TPFG’s new Privilege programme, which includes a rent guarantee product and generated £1.5m of new income in FY25.
Sales management fees increased by 13% to £10.5m.
Sales management fees increased by 13% to £10.5m, driven by lower borrowing costs, buyers acting ahead of the March 2025 stamp duty change and improved sales penetration across the franchise network.
Financial Services revenue grew by 26% to £24.2m, supported by improved adviser productivity and higher mortgage volumes.
Across its businesses, TPFG completed 25,000 mortgages during the year, equating to £4.4bn of lending. Since the year end, the Group has strengthened the division with the acquisition of an 85% stake in Smart Advice Financial Solutions.
Licensing revenue rose by 75% to £12.6m, with Fine & Country adding 13 new licensees, including eight international offices.
GROWTH OPPORTUNITIES
Chief Executive Gareth Samples (main picture, inset), said: “FY25 was a strong year of execution, with successful business integration and solid growth in revenue, profitability and cash.
“Our significantly increased scale is enabling us to deliver greater value to our network and enables us to capitalise on additional revenue opportunities, as demonstrated by the launch of our Privilege programme.
“I’m excited about what lies ahead for the Group, as we build on our consolidated platform to unlock additional growth opportunities which are underpinned by a resilient business model and a high proportion of recurring revenues.”
