The UK’s asset valuer and auctioneer of the year for the last four years running has announced the opening of a new Birmingham office, servicing turnaround, restructuring, insolvency and finance markets.
The new site is open for business at Cheltenham House, 14-16 Temple Street in Birmingham and will serve as a bigger base, replacing one of the company’s satellite serviced offices, to accommodate its growing list of clients in the region.
John Pye currently works with a number of insolvency practitioners, banks and finance houses in the Birmingham region and with demand for services at an all-time high, the company has earmarked the West Midlands as a key location for business growth.
The national auctioneer, which celebrated its 50th anniversary and a record-breaking trading year in 2018, has ploughed significant investment into expansion plans over the last seven years, opening new sites across the UK and internationally and launching in the United Arab Emirates last December.
John Pye was awarded ‘Asset Valuer / Auctioneer of the Year’ last October in London for the fourth year running in the UK’s Turnaround, Restructuring and Insolvency (TRI) Awards.
The new Birmingham office will offer a full range of valuation and disposal services for finance houses, banks and insolvency practitioners, encompassing a wide range of sectors including property and lending and plant and machinery.
Trevor Palethorpe, national head of corporate valuations at John Pye, said: “In recent months, our West Midlands client base has grown considerably, which made the case for us to turn our satellite serviced office in Birmingham into a larger, more established hub.
“The West Midlands is an important market for us and having a central hub in Birmingham that offers the full breadth of our services, will support the continued growth and expansion of the company and will help us better serve our clients in the area.”
“It has been a very busy and exciting period for the company – celebrating 50 years in business, launching our sixth trading department John Pye Technical and launching internationally in the United Arab Emirates. The new Birmingham site marks another step forward for the UK expansion of John Pye and it’s great to be starting 2019 this way.”
The firm has grown faster than any other European auction business in the last seven years, expanding from just one site to 23 including the Birmingham hub, and growing staff from 80 full-time team members to over 430. Annual auction frequency has also significantly increased from 80 to over 1,000 in 2018.
The company comprises of six trading departments; John Pye Property, John Pye Retail, John Pye Business Assets, John Pye Vehicles, John Pye Luxury and John Pye Technical.