New form of selling netted top price for Westway

And there are even claims that the 11-unit site is the highest value commercial property to be sold via auction this year to date according to figures provided by data company Essential Information Group.

It has been confirmed that a number of competitive bids were received prior to auction by BidX1 which helped to co-ordinate the sale

Some details of the transaction, including plans for the future, remain unclear but we can confirm that the final offer was made by a UK-based firm- at a rate that topped the guide by more than 15 per cent.

Simon Bailey, Director at BidX1 said: “We’re very pleased to have completed such a significant sale for our client. It speaks volumes that the highest value commercial asset to sell via auction this year was sold by an online auction house. A property firm that puts technology and data at the heart of its model is now a hugely valuable partner .

“As the mature players in this space, we see a huge increase in demand for a more flexible, and tech-focused approach.”