Eddisons expands auctions presence with Network Auctions acquisition

Leeds-headquartered property consultancy Eddisons has strengthened its auctions division with the acquisition of Network Auctions.

The London-based firm was established in 2005 and sells residential and commercial properties across the UK via monthly online auctions. Network Auctions will integrate with Eddisons’ existing auction business which includes Pugh & Co, SDL Property Auctions and Mark Jenkinson.

The transaction will expand Eddisons’ property auction coverage in the south of England and adds five new experienced members of staff to the firm’s auctions team, including directors Toby Limbrick, Stuart Elliott and Guy Charrison.

Andrew Parker, who heads the Eddisons property auctions division, said: “We’re delighted to welcome the Network Auctions team to Eddisons.

“Over the past year, we have marketed more than 3,000 properties and plots of land through our auctions, generating over £330m for clients.

“Bringing Network Auctions into the business, with their established presence in London and the south, allows us to provide even broader national coverage and deliver greater choice and value to both buyers and sellers.”

Network Auctions partner Toby Limbrick said: “Becoming part of Eddisons marks an exciting new chapter for us and gives us a stronger platform for growth and the opportunity to deliver even more for our clients.

“We’re looking forward to bringing our expertise and energy to a larger national team and continuing to progress the way property auctions are delivered.”

Network Auctions marks another step forward for Eddisons which in the last year recorded revenue of more than £46m. The business has a strong growth record both organically and through eight strategic acquisitions undertaken in the last five years.