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Pattinson has acquired a second office in North Tyneside due to increasing demand for its services.
This new property is strategically located adjacent to their existing large head office, based at Silverlink Business Park, signalling the company’s rapid growth and ongoing success within the auction and estate agency industry.
The purchase reflects Pattinson Auction’s commitment to scaling its infrastructure to meet increasing business demands and provide an enhanced workspace for its growing team.
The firm’s expansion comes after acquiring three other North East estate agencies earlier in the year.
In May, Pattinson completed the takeover of NS Bennett Estate Agency, a Stanley-based firm, after its owner announced retirement. This acquisition followed the firm’s earlier purchases of Ryedales Estate Agency in Cramlington and Browns in Stockton and Norton. The newly acquired office space will accommodate the firm’s additional staff, recruited in response to these acquisitions, and will bolster its national auction capabilities.
The company’s auction segment has experienced growth, buoyed by the appointment of more partner agents across the country.
The new office will support additional staff and expand the firm’s national auction facilities.
Pattinson has reported a significant rise in auction transactions, backed by over 3,700 partner agents across the UK.
The company’s turnover for 2022 was £14.7m, reflecting its robust growth trajectory.
Group managing director at Pattinson, Justin Beckwith, said: “We have had a record-breaking year so far and are continuing that upward trajectory due to the current high demand for property auction.
“People are becoming increasingly aware of the benefits of selling through auction and we now have a growing network of over 3,700 partner estate agents throughout the UK.
“This additional office will allow us to support this growth of our auction facility, and will also give us space to expand further.”
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