Glasgow-based Prime Property Auctions has registered its most successful month to date for commercial sales with more than £1 million of deals completed.

A recent £200,000-plus transaction for a large social club in Renfrew saw the company break the £1m sales threshold in a 30-day period for first time since its inception three years ago.

Set up by John Morris and Luis Guarin, Prime operates throughout Scotland and the UK, establishing itself as one of Scotland's leading auction houses with listings across not only commercial and residential but also land.

Their business model sets a fee structure of 1.5 per cent (plus VAT) subject to a minimum of £1500 (plus VAT) being paid to referral partners and it continues to attract new collaborations – more than £350,000 in fees has been paid in three years.

Consequently, the commercial property side of the business is showing a real upturn, with October alone seeing an extensive range of deals done to break the £1m threshold. Those included a detached four-storey property in Aberdeen, a vacant office suite in Glasgow city centre and a portfolio of tenanted retail outlets in Kilmarnock.

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Commercial sales have made up around 30 per cent of Prime's total sales in the past 12 months, compared to 10 per cent the previous year. Director John Morris wants to see that figure closer to 50 per cent in the coming year.

"The majority of those commercial properties have been referred to us by commercial agents, who understand the power of selling at auction and trust us to deliver certainty and strong results," he said.

"It is easier to sell flats as there are more buyers but commercial real estate is a massive part of the market. The more we grow and become known as the brand which gets properties sold - our completion rate is 97 per cent - so that side of the business will expand, too.

"A lot of the commercial property we sell tends to be tenanted with landlords looking to exit the market and wanting the security of a sale without being messed around by buyers. Commercial investors usually understand financing and know what they need to pay to get deals done."

Co-founder Luis Guarin added: "Property remains a robust investment, with commercial assets attracting increasing interest from committed buyers and sales expected to rise across both the commercial and residential sectors.

"Residential demand also remains resilient, and investors continue to seek new opportunities. For landlords looking to exit, auction offers a fast, secure route to sale, supported by non-refundable deposits and fully committed purchasers."