A North Tyneside property firm is expanding its operations due to increased demand for its services.
- The company has acquired a second office building next to its current headquarters.
- This expansion follows the acquisition of three Northeast estate agencies within the same year.
- The firm, known for its estate agency and auction services, will use the new space to accommodate additional staff and operations.
- Increased interest in property auctions and strategic partnerships has driven this growth.
A North Tyneside-based property firm has moved to expand its capacity, acquiring a second office building adjacent to its existing headquarters. This move comes as a direct response to growing demand for the company’s services, particularly in the realm of property auctions.
The company, already a significant player within the estate agency and auction spheres, has added to its real estate portfolio by purchasing a property next to its main office at Silverlink Business Park. This acquisition will support the firm’s increased staffing requirements and its expanding auction division.
Over the past year, the firm made notable strides by incorporating three additional estate agencies in the Northeast region. This strategic expansion increased its network to a total of 30 offices.
The recent acquisition of a property in Stanley from NS Bennett Estate Agency followed the retirements of the former owners. Additionally, Ryedales Estate Agency and Browns in Stockton and Norton joined the company’s growing portfolio.
With the new office building, the company aims to bolster its national auction operations, which have seen significant growth. By partnering with over 3,700 estate agents across the UK, the firm has witnessed a rise in auction transactions.
Notably, the company’s latest financial reports show a turnover of £14.7 million for 2022, demonstrating its robust market position. Over 300 employees contribute to its diverse operations that include property sales, lettings, and financial services.
Group Managing Director, Justin Beckwith, highlighted the business’s upward trajectory, expressing optimism about the ongoing demand for property sales and auctions. ‘We have had a record-breaking year so far and are continuing that upward trajectory due to the current high demand for property,’ he stated.
The newly acquired building’s ground floor will accommodate the company’s needs, while the existing tenant will remain on the first floor. Chris Pearson from Naylors Gavin Black praised the investment, stating it was a sound decision due to its high standards and prime location.
The latest office expansion marks a significant milestone for the firm amid a record-breaking year driven by strategic growth initiatives.
