Property agent Pattinson has merged its auction and commercial divisions in a move it hopes will increase its commercial sales book.

The Newcastle agent last year was the 16th largest auction house in the UK, selling £43m of property, mainly homes.

The new division will be headed by associate director Richard Francis, who ran the agent’s auction division.

Demand for commercial properties at auction has boomed in the past year as smaller investors plough their money into shops, pubs and small commercial units.

About £2bn of commercial property went under the hammer in 2005.

Posted: 05|10|06 at 9:28 am. Filed under: UK News.