Wales’s largest property auction house is taking giant strides to bolster its position by opening in North Wales and also across the River Severn in the city of Bristol.
Paul Fosh Auctions, based in Newport, has been number one in the auction charts in Wales for the past decade selling £23.7m worth of properties last year alone.
Paul Fosh, who lives in Monmouth, said: “We are opening auction sales in north Wales and also in Bristol as a direct response to overwhelming demand from customers and also from agents in these two areas. There have for some time been calls from agents in North Wales for us to expand our very successful operation north. There have been similar requests for us to do likewise in Bristol.
“It’s our firm belief that auction property buyers and sellers are not being as served as well as they could be in these two locations and we are therefore about to put that right by rolling out our very successful blueprint north and east.”
Paul, who already stages eight auction sales a year in Llanedyrn, Cardiff, now plans to stage a similar amount each year in North Wales and in Bristol. The Paul Fosh Auction online offering will also be boosted in the expansion
“Paul Fosh Auctions online is going very well and some would argue that, that is the way forward but we are of the belief that there is very much still a place for the physical ‘ballroom’ auction which is why we are expanding our offering in this way while at the same time boosting our exposure to online sales.”
Paul said: “The Paul Fosh Auctions sales brochure will list all of the properties that we have for sale in the one publication. The full list will also be published online. The Cardiff auction will be held first, then the one across the Severn Bridge in Bristol, followed a few days later by one up in North Wales.
“We expect to retain a similar amount of around the 100 property mark for the Cardiff sales and to probably start off with around the 20 lots mark for both north Wales and Bristol.”
Paul is finalising details for the new locations but says Bangor is likely to one and close to the motorway in Bristol the other. The first Bristol auction is due to be held starting at 5pm on Tuesday, September 12, while the North Wales sale is due to be held on a date in mid October. All three auction locations is planned to be included in the single brochure in December.
“We’re all very excited and slightly nervous at the expansion but confident that the tried and tested Paul Fosh Auctions model will do well in the two new areas. It’s a good feeling to be expanding into England with a Wales-based business rather than the other way around which is more normal.”
Paul Fosh Auctions secured number one spot in the national auction league after selling 339 properties at a total value of £23.7m in 2016.
This is the ninth year in a row the auction house achieved the premier position for the number and value of properties sold.
The leading property business has maintained its dominance in this intensely competitive auction sales industry in Wales and also notched up a strong position in the UK rankings. Figures reveal that Church Road, Newport-based Paul Fosh Auctions sold a quarter of all the 1,233 properties offered at auction throughout Wales during 2016.
The reputable annual auction sales chart, a highly regarded guide within the industry, is compiled by UK industry experts the Essential Information Group (EIG) and published in association with industry ‘Bible’ Estates Gazette.