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Auctioneer home hunt

AUCTIONEER Gregson Flanagan is scouring key sites in the western suburbs in a bid to find a high profile replacement for its Stirling Highway retail premises.

Part of an $8 million float plan for the Perth auction house, a new headquarters and auction room would be complemented by up to six other metropolitan retail art showrooms.

Internet sales conducted under the same authentication system as its physical auctions and a move to promote art as an investment to financial advisers are other parts of the Gregson Flanagan package.

The company hopes to take the concept across Australia.

A Sydney office with its own development officer has already been appointed.

The company is run by Ian Flanagan and other board members include insolvency expert Alden Halse, former Perth lawyer Michael Arnett, accountant Wayne Ryder, surgeon Sean Hamilton and business consultant Norman Youens.

Mr Flanagan will control more than 25 per

cent of the listed entity whose float is being underwritten by Hong Kong-based Reliance Investment Co and promoted by Montagu Stockbrokers.

The company is looking at sites in from Cottesloe to Nedlands and is believed to be in serious negotiations with the owner of at least

one premises.

“The western suburbs is right in their patch,” a source told Business News.

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