Cheffins is pleased to be leading a new independent auctions platform launched by The Commercial Property Network (The CPN), a network of privately-owned commercial property advisory firms spanning the UK.
CPN Auctions will create a national auction collective, providing a unique mix of property for sale with wide coverage and access to an unrivalled client database. The first online auction is set to take place at the end of Q1 2025.
Formed 60 years ago, The Commercial Property Network offers expertise to organisations looking to maximise the management of their commercial property assets, whether that is through commercial investment, building consultancy, property management or any of the 14 services offered.
Fergus Laird, Partner at Naylors Gavin Black and President of The Commercial Property Network, says: “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 commercial real estate opportunities that are suited to the auction format which provides that all important immediate sale and unconditional contract.”
Hosted by The Commercial Property Network, CPN Auctions will be led by Ian Kitson of Cheffins, with strategic advice and support from Mike Grey at Dedman Grey. Well known for their extensive auction expertise, as member firms, Cheffins and Dedman Grey also have an in-depth knowledge of the network, its firms and its operations.
Ian Kitson, Divisional Director of Property Auctions & Valuations at Cheffins, comments: “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 commercial property 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.”
The Commercial Property Network currently has over 70 million sq ft of commercial property under management and over 3,000 properties on the market across the UK.
The network covers all aspects of commercial property, advising on the whole property lifecycle from investment strategy and acquisition to planning, development and construction, asset/property management, property management, sales and lettings and disposals.