Nottingham-based auction house network John Pye & Sons has outlined plans to expand across Europe.
The move includes the acquisition of a 151,771-square-foot property in Zaragoza, following sales growth of 29.8 percent since November.
The expansion into Europe is expected to create between 70 and 80 jobs within the first 18 months of operation.
Managing Director Adam Pye said: “We have had our eye on European expansion for some time, but with the economic climate restricting access for many of our overseas brand partners, as well as the strong growth of our business over the past quarter, we have it now felt the right time to press ahead with plans.
“Combined with the strength of our brands, our customers come to us knowing they can find a range of luxury retail, home appliances and commodity items not available elsewhere, and with the potential to acquire them at great value reasonable price.
“It felt only right to expand these values across Europe and I look forward with great interest to expanding John Pye’s operations into new and exciting territories.”
Following implementation in Zaragoza, Spain, it is expected that John Pye will then set the wheels in motion to source land in Poland, with a new website to be launched to enable European tendering.
The transition is supported by HSBC.
Liz Fuge, Deputy Head of Corporate Banking at HSBC added: “We are delighted to support John Pye as he expands his business into Europe. It is great to see the continued growth and development of his team and we are committed to working with the company to achieve its ambitions.”