National property consultancy Eddisons has become one of the country’s largest property auction houses by volume after acquiring Nottingham-headquartered SDL Property Auctions in a deal worth up to £3.25m*. The acquisition will increase the number of auction lots offered annually by Eddisons to over 3,000.
Led by managing director Andrew Parker, SDL Property Auctions sells residential and commercial properties across the UK, offering around 2,000 lots for sale annually. Employing 46 people, the firm is particularly active in the Midlands, South East, and Scotland, complementing Eddisons’ own property auction strengths in Yorkshire and the North West.
The acquisition builds on Eddisons’ auction business, which trades under the Pugh and Mark Jenkinson brands, with SDL Property Auctions set to integrate with the Eddisons team post-acquisition.
Eddisons managing partner Anthony Spencer said: “I am very pleased to welcome the SDL Property Auctions team to Eddisons. The acquisition significantly increases the scale of our auction business and I look forward to working with Andy and the team in the future.”
He added: “This is the fourth acquisition of the year for Eddisons and we continue to seek further opportunities for expansion across the UK."
Eddisons’ strategy of increasing the scale and quality of its business, both organically and through acquisitions, has seen the firm increase turnover from £20m in 2020 to more than £40m this year.
The SDL Property Auctions deal follows previous acquisitions this year of Sheffield auctioneer Mark Jenkinson in March, Lincoln-based consultancy Banks Long & Co in May and last month’s acquisition of Andrew Forbes Surveyors in Bristol.
Andrew Parker, SDL Property Auctions managing director, said: “Through our team of talented people who place our clients’ interests at the forefront of everything we do, SDL Property Auctions has developed an award-winning reputation for selling property by auction.
“We are excited to be joining Eddisons and I look forward to working with like-minded individuals to develop the opportunities that the deal presents.”
Leeds-headquartered Eddisons is one of the UK’s fastest growing multi-disciplinary property consultancies. Established in 1844, the firm employs more than 400 people across a network of over 30 offices.