Pictured above: Graham Penny

Whilst the rest of the property industry continues to suffer under the weight of the economic downturn, a firm of Derby property auctioneers has scored a double success.

Graham Penny Auctions, which is based on St James' Street in Derby, has retained the title of East Midlands Auctioneer of the Year for the fifth successive year and has now been named as the best performing auction house outside of London in terms of revenue.

The company has topped the Essential Information Group's (E I Group) league table for the highest sales during 2010 for the fifth successive year, which it has achieved every year since the company was formed.

The company reached the top spot achieving property sales in excess of £33.3 million during 2010. 

Now, statistics released by the EI Group in this week's Estates Gazette show that in 2010 Graham Penny Auctions also experienced the highest percentage growth outside of London. 

Only two property auction houses outside of London have achieved positive growth over the past 12 months and Graham Penny Auctions heads the list with an increase in revenue of 7%.

Many other high profile auction houses suffered a decline in business, with some of the most high profile names recording decreases in sales of up to 30%.

Graham Penny's last auction, held at Pride Park Stadium in December, featured a catalogue of 81 lots and achieved a success rate of more than 74%, with more sales pending, and a total revenue of some £4,169,000.

Commenting on the company's continued growth, director Graham Penny said:

"To be named as the highest performing auction house outside of London and top the EI Group league tables for the fifth consecutive year, is a massive achievement for the company.

"Our continued success, particularly in the current climate, is particularly gratifying and reflects our unrivalled market knowledge and marketing expertise, which continues to attract both vendors and purchasers."

"The latest figures from the EI Group underline our growing reputation as one of the leading auctioneers in the UK.

Graham Penny Auctions acts for both private individuals and institutions selling a wide range of interests, from vacant houses and investment properties to building plots and development sites, commercial properties, land and others.

Its next Derby property auction, which is taking place at Pride Park Stadium on Thursday 17 February 2011, will see the largest number of lots entered for more than two years.

The EI Group, which covers the whole of the UK, sets the industry standard for auction information and has more than 20 years' experience of watching the auction market.