John Pye Auctions has acquired a 156,292 square foot property in Zaragoza, Spain.
The fall of the auctioneer for the Bisimbre site marks his first step into the European market.
The Nottingham-headquartered company is expected to create up to 80 jobs over the next year and a half at its new premises, which will be fully operational by September.
It also plans to expand to neighboring countries and launch a European bidding website.
The announcement follows a successful period for the company, which has seen its revenue rise 29.8% since November.
Managing Director Adam Pye said: “This is a huge step forward for John Pye Auctions, we have previously explored mainland Europe and to be in this position is incredible for the company and the team.
“Feedback from customers has already been overwhelming and I would like to thank everyone involved and best of luck to those who have helped us launch and operate new ventures. This is a historic move for the company, without external financial backing, and it is an honor for our team, our customers and our ethos.”
Toby Moore, who will lead the new Zaragoza site, said: “We have had a fantastic journey acquiring the site and getting everything ready for operations.
“It’s an exciting time for the company and I’m proud to be a part of this next phase. Me and the team look forward to being the driving force behind John Pye Auctions in Spain.”