The Commercial Property Network (The CPN) has launched an independent auctions platform called CPN Auctions.
The national auction collective will provide a wide range of property for sale with the first online auction due to take place at the end of Q1 next year.
CPN Auctions will be led by Ian Kitson of Cheffins, with strategic advice and support provided by Mike Grey at Dedman Grey.
The Commercial Property Network, which was formed 60 years ago, is a collective of privately owned, commercial property firms spanning the UK. The network provides advice to organisations looking to maximise the management of their commercial property assets.
Fergus Laird (pictured), partner at Naylors Gavin Black and president of The Commercial Property Network, said: “As we celebrate 60 years of collaboration, we are extremely excited and proud to be launching this new chapter for The CPN, providing an independent service to cater for the many real estate investment opportunities that are suited to the auction format which provides that all important immediate sale and unconditional contract.”
He added: “Success in commercial property is all about local knowledge and our members have a granular knowledge of their market. By working with The CPN members, clients are ensured of a personalised support from firms with unrivalled local expertise, coupled with a national reach of the network, which will now be provided as an additional service in an auction format, and we are very much looking forward to the first sale.”
Ian Kitson, divisional director of property auctions and valuations at Cheffins, said: “CPN Auctions will provide a unique offering to the market. The UK-wide coverage of 33 member firms, the network’s granular local knowledge and valuation expertise, plus its ability to bring together an unrivalled spread of investment opportunities will pack a real punch.
“Our plan is to hold three to four collective online auctions per year, with the flexibility to host further depending on demand. The online format gives us the opportunity to reach a wide network of buyers, nationally and internationally, with the binding nature of the auction contract committing buyers and sellers on the fall of the hammer to keep timescales concise.”
