Paul Fosh Auctions plans for growth with key appointments as it doubles turnover of its property business

THE most successful property auction business in Wales is looking to expand further with key appointments as it reveals impressive growth figures.

The Newport-based property auction house emerged as number one in the national auction league after selling 401 properties out of 553 offered at a total value of £26.8m at nine auctions last year registering 72.5% sales of lots offered.  

This was the eleventh year in a row the Paul Fosh Auctions achieved the premier position for the number and value of properties it sold in Wales. 

The property auctions business had a 25% share of the entire number of properties sold at auction in Wales. The Newport firm’s closest competitor sold just 143 lots for £13 million.

The reputable annual auction sales chart, a highly regarded guide within the industry, is compiled by UK industry experts Essential Information Group (EIG) and published in association with industry ‘Bible’, Estates Gazette.

Paul Fosh Auctions, which plays host to the BBC’s uber popular Homes Under the Hammer programme at the auctions it holds in Cardiff, launched its own lettings agency this year.

The auctions business is now looking to expand it successful team but says its needs specific people to fill the roles.

Paul Fosh, managing director of Paul Fosh Auctions, who moved his business across the city of Newport to new, larger premises in the up and coming area of Lower Dock Street, two years ago, said: “We have continued to expand in the past few years. In fact in the last four years we have doubled our turnover.”

The auctions business which regularly sells in excess of £2m worth of properties at its regular auctions is now looking to appoint a valuer and also a business development professional, to join its expanding team

Paul said: “We are being very precise in our search for the right people to fill these very important roles in the business. The valuer may be from a commercial or residential background but what is most important is their core values. We need people who share our vision so we can move on to the next level with the business.

“Paul Fosh Auctions goes from strength to strength and we really need to have the right people in these key positions to assist in our growth. People who have the right core values of honesty and integrity are our target. It’s these values which we all work very hard to maintain in the business.

“We are fortunate in that we have great repeat business and a loyal customer base but this doesn’t just happen; we work hard as a team to ensure that the correct ethos and attitude runs throughout the business.

“Paul Fosh Auctions is on an exciting journey and we’re now looking for individuals to help us deliver on this vision we have here in the city of Newport. If you think you’re the person we’re looking for and want to be part of the most successful property auction business in Wales give me a call or drop me a line.”

The next Paul Fosh Auctions sale is on Thursday, August 10, at The Cardiff North Hotel, Llanedyrn, Cardiff, starting at 5pm