A property auction house with offices in 11 locations across the UK, which transferred its activities online during the Coronavirus lockdown, says the experience has persuaded it to launch a national business to work directly with estate agents.
Pugh & Co was established in 1992 but subsequently bought by property consultancy Eddisons four years ago.
The company has a database of some 40,000 investors who bid at its auctions, and the Lancashire-based firm now wants to use its expanded online capability to help agents around the UK sell properties that are unsuitable for sale by private treaty or require an immediate and unconditional sale, and also offer them a new revenue stream.
“We recognise that estate agents have had to overcome an array of challenges during lockdown and that reaffirms our commitment to flexibility and collaboration when forming our auction partnerships,” says associate director Will Thompson.
“Enforcing a one-size-fits-all approach doesn’t work.’
“Whilst covid-19 has inevitably presented challenges, successfully moving our entire auction function to our pre-existing online platform during lockdown is a great source of pride for our team.
“The fantastic results of our recent online auctions have proved we can truly offer our partner estate agents a flexible and reliable auction partnership.”
Pugh & Co says it sold properties worth £5 million at its latest online auctions, proving there is an appetite among investors to buy property online following the pandemic.
Its offices are in Birmingham, Bristol, Glasgow, Leeds, Liverpool, London, Manchester, Newcastle, Newton-le-Willows, Nottingham and Sheffield.