Auction house breaks £100m sales barrier

PROPERTY auctioneer, SDL Auctions has topped sales of £100m so far this year following increased demand for investment properties.

SDL Auctions, the UK’s largest auction network outside of London, comprises SDL Bigwood in the West Midlands and SDL Graham Penny in the East Midlands.

It raised more than £17m at its four auctions in Birmingham, Derby, Nottingham and Leicester last month alone. This takes the total raised for the year to date to £108m.

Rory Daly, auctioneer and CEO, said: “2016 has been such an exciting year for us. Both Bigwood and Graham Penny has joined the SDL Group and we’ve had some exceptionally good results in our auction rooms, as is demonstrated with this fantastic total sales figure.”
 
Andrew Parker, auctioneer and managing director, added: “The property market has definitely seen some bumps in the road this year – with the stamp duty changes in April and then the Brexit vote in June. However, it’s great to see that the market is bouncing back and our buyers are remaining confident and coming in their hundreds to our auction rooms.”
 
Formerly CP Bigwood and Graham Penny Auctions, SDL Bigwood and SDL Graham Penny joined the SDL Group in early 2016, making the SDL Auctions network the fourth largest in the UK and the biggest outside of London. It is currently launching new auction centres in Coventry and Stoke.