Belvoir Lettings plc, formerly Belvoir Lettings Limited, is holding company for Belvoir Property Solutions Limited (BPSL). BPSL acts as a holding company for Belvoir Property Management (U.K.) Limited (Belvoir). The principal activity of Belvoir is to act as a franchisor of a property management and lettings franchise. The Company�s franchised lettings agency business operating across the United Kingdom. As of February 20, 2012, the Company had 142 franchised offices all operating under the Belvoir brand. In addition Belvoir owns Student Living and it has granted two franchisees the right to trade under this brand. Belvoir�s franchised offices are concentrated in the Midlands. Belvoir�s business model is based on business format franchising.