LSH has secured a sale mandate with Defence Infrastructure Organisation, part of the Ministry of Defence, to facilitate the sale of property and land through a pioneering online auction platform.
Robert Stone, head of estates at the DIO, said “The MOD has committed to reducing its estate by 30 per cent by 2040, the appointment of LSH to deliver some of the planned disposals will be of great help to achieve this and we are very pleased that we can utilise their innovative auction platform.
"The broad mix of disposals will comprise of parcels of development land, former farms, amenity land, retail and other disused buildings and sites.”
National head of auctions at LSH Oliver Childs commented: “It is a real privilege to have been awarded this contract by the Ministry of Defence. We have been pioneers in the online auction space, and over the past two years have developed a track record of success having sold a wide variety of property all over the UK through our platform.
"Clients have ranged from FTSE 100 companies, private equity, LPA receivers and Homes & Communities Agency. The online extension to our traditional ballroom auctions allows us to provide Ministry of Defence with an experienced and market leading team. We have consistently proved above market values and we look forward to bringing these properties to the market."
LSH has provided an online auction platform since late 2015 and were the first traditional commercial property auctioneer to offer this alternative route to market. The online auction platform offers a bespoke chance to sell a wider variety of stock at any given time, giving LSH the ability to put the client first.
LSH’s CEO Ezra Nahome added: “This mandate is a further endorsement of our market leading online auction platform. The direction of travel is clear and we are leading from the front, providing an efficient and transparent platform giving wide reaching investors the ability to buy property with confidence and certainty.”
The first tranche of MOD properties is expected to be listed within the next three months.
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