A new property auction firm has launched aiming to offer residential and commercial property, development, investment and land through in-house, online and live-streamed auctions.
Hertfordshire-based Landmark Auctions held its first auction at the end of May with lots sold under the hammer including a family home in Essex which went for 20% over its guide price. Sellers include private individuals, government agencies, charities, receivers and insolvency practitioners, housing associations, private equity funds and developers.
Operated by Tommy Hughes (pictured), founder and managing partner of sister firm and estate agency The Landmark Partnership, it plans to hold another five auctions over the coming months with the next sale set for 22nd July.
Hughes, who is a former Auction House valuer, believes the pandemic has had a significant impact on the auction market and changed the way many people prefer to buy and sell property – from the comfort of their home.
Thousands of people
“Lockdowns meant we were seeing live and online conducted auctions only, attracting thousands of people and generating hundreds of sales,” he says.
“This trend will last which is why we are offering online access to all our auctions as well as the more traditional in-house approach.”
Hughes adds that auction sales are a fast and secure way of buying and selling as no one gets stuck in a chain, plus it eliminates the risk of being gazumped.
“However, for anyone new to the auction world they need to do their research beforehand. We are really looking forward to guiding people through the process.”
The Landmark Partnership offers bespoke personal consultancy and boasts success in real estate and acquisitions, in central London and prime locations, spanning more than 25 years.