commercial property lambert smith hampton

News - 13/03/2018

Ministry of Defence appoints Lambert Smith Hampton for online auction contract

LSH has secured a mandate with Defence Infrastructure Organisation, part of the MoD, to facilitate the sale of property and land via its pioneering online auction platform. 

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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 its 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 comments, “It is a real privilege to be awarded this contract by the Ministry of Defence. We are pioneers in the online auction space, and over the past two years have seen success having sold a wide variety of nationwide property through our platform. Our clients range from FTSE 100 companies, private equity firms, LPA receivers and the Homes & Communities Agency. The online extension to our traditional ballroom auctions allows us to provide The MOD with an experienced and market leading team. We are consistently gaining above market values and look forward to bringing these properties to the market.“ 
LSH has provided an online auction platform since late 2015 and is 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 each client first. 
LSH’s CEO Ezra Nahome adds “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 3 months.  

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