This year marks a significant milestone for The Commercial Property Network (The CPN) as we celebrate our 60th anniversary. In conjunction with this celebration, we are thrilled to announce a major development: the launch of our own independent online auction platform, CPN Auctions.
A New Chapter for The CPN
CPN Auctions represents a significant step forward for our network. It is designed to cater specifically to the real estate opportunities that thrive in an auction environment—offering immediate sales and unconditional contracts. Our first online auction is scheduled for the end of Q1 2025, and it promises to be a pivotal moment in our ongoing evolution.
Fergus Laird, Partner at Naylors Gavin Black and President of The CPN, expressed his enthusiasm: “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 real estate opportunities that are suited to the auction format which provides that all-important immediate sale and unconditional contract.”
Why CPN Auctions Stands Out
CPN Auctions is not just another auction platform. It is a national auction collective that brings together a unique mix of properties for sale, backed by wide coverage and access to an unrivalled client database. This initiative will give the clients of The CPN member firms national exposure, placing their auction properties in front of probably the largest Rolodex of commercial property investors, developers, and occupiers in the country.
Ian Kitson, Divisional Director of Property Auctions & Valuations at Cheffins, and a key figure behind CPN Auctions, shared his insights: “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 auction properties will pack a real punch.”
Planned Operations and Benefits
The strategy for CPN Auctions includes holding three to four collective online auctions per year, with the flexibility to host additional auctions depending on demand. The online format allows us to reach a broad network of buyers both nationally and internationally, while the binding nature of the auction contract commits buyers and sellers from the moment the hammer falls, ensuring concise timescales.
A Network Built on Expertise
The CPN, with over 70 million sq ft of commercial property under management and more than 3,000 properties on the market across the UK, covers all aspects of commercial property. The auction will be hosted on the website www.thecpn.co.uk/auction 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.
Fergus Laird adds, “Success in commercial property is all about local knowledge and our members have a granular knowledge of their market. By working with The CPN members, clients are ensured of personalised support from firms with unrivalled local expertise, coupled with the national reach of the network, which will now be provided as an additional service in an auction format, and we are very much looking forward to the first sale.”
As we step into this exciting new phase, we invite all our members and their clients to leverage the benefits of CPN Auctions. Here’s to another 60 years of innovation and success in commercial property networking!