Online property auction firm, John Pye Property, has set its sights on expanding further across the North West.
Holding more than 650 auctions annually across its 23 nationwide sites, John Pye claims to be one of the fastest growing property firms in the UK. Due to its expanding client base across the North West, John Pye has now announced the opening of an office in Salford Quays, Manchester.
The company’s online property auctions have offered more than £135 million worth of property to date, with clients ranging from LPA receivers, insolvency practitioners, banks, property companies and private investors.
“We are selling more property in the North West than ever before, including one of our biggest auction successes when Trafford Park Hotel in Manchester sold for nearly three times the guide price, so it was evident that we needed a base there,” Richard Reed, head of property at John Pye Property, commented.
“We already have a team based in Manchester and will be looking to recruit more chartered surveyors and agents over the next few months,” he continued. “We are looking to roll out more property sales in this region over the coming months.”
Recently, John Pye Property partnered with Manchester property entrepreneurs Atif Malik and Ayyaz Ahmad.
“John Pye Property is revolutionising the property auction industry,” said Atif Malik, ambassador to Ajman government in the United Arab Emirates, who has been working with John Pye for the past year.
“We have sold a number of properties through the company’s auctions and with great success,” Malik stated. “What makes the business really unique is that they don’t charge the seller fees. The auctions are free to enter, and there are no marketing costs – it’s the future of property auctions.”
Selling commercial and residential property at quarterly auctions initially, the John Pye team now hosts auctions every three to four weeks, generating millions of pounds in sales. It recently celebrated its third year in online property auctions and increased the frequency of its events.
Reed believes that online property auctions are steadily becoming a conventional way to buy and sell properties, with more people using the method to boost their property portfolio.
“An example of this was the sale of the Trafford Park Hotel in Manchester,” Reed explained. “This property was sold on behalf of receivers and was guided at £400,000.”
“We were inundated with more than150 enquiries and a large number of pre-auction bids. The property went to auction and we received a record number of bids. The property sold for £900,000.”
John Pye Property regularly features properties from Manchester, Liverpool, Birmingham, Nottingham and London. To find out more about John Pye, visit www.johnpye.co.uk/property-auctions.