By Rupert Hargreaves The Property Franchise Group (TPFG) and Belvoir Group have today announced they have agreed on the terms of an all-share merger to create the UK’s leading property franchise business. TPGF – which operates brands including Hunter’s and Ellis & Co – will absorb Belvoir in a deal worth 277.4p per share, equivalent to around £110m. If the deal goes ahead the combined group will have more than 930 property franchise locations, managing approximately 152,000 tenanted properties across the UK. The parties also believe the new company will sell more than 28,000 properties per ann…