A Newport-based auctions business has realised a dream by launching its own lettings agency.

Paul Fosh Auctions has launched Paul Fosh Lettings with experienced lettings professional Adrian Smith at the helm.

Paul Fosh, owner and managing director of the firm, which has its headquarters at Lower Dock Street, Newport, said: “Lettings have always been a potential goal of ours but due to the market being pretty flooded, we wanted to make sure we had the right model in place before we threw our hat into the ring.

“Due to the nature of auctions, it seems to be a natural progression moving into the lettings sector, and our main aim is to offer the full package to potential landlords: Sell, Buy, Rent.

“It was imperative that we had the best person in place to run it, and that person is Adrian Smith. Adrian is an expert in the property lettings field and comes onboard with a vast amount of knowledge and experience, having spent 35 years in the property sector.

“Having previously run the lettings department for Roberts & Co and Peter Alan, it's fair to say Adrian knows a thing or two about the industry.”

Adrian Smith said: "I have been responsible for more than 1,150 fully-managed landlord properties and I see a great opportunity ahead for landlords that want to shape a service specific to their personal needs.

"Whether larger portfolios or individual first-time investors, we are uniquely placed to offer a speedy service, to match the high demand for rental properties in our locality. The market is changing so fast, that you need to be able to capture all the legislation and ensure that you are maximising your returns on your investment.

"South Wales is definitely a place to be with great value properties, strongly supported with the influence of the Severn Bridge toll being removed and businesses investing in the area."

Paul Fosh said: "Our auctions business has grown year on year since it was established some 18 years ago. We are by far the largest auction house in Wales and have a very large following of buyers and sellers.

"We have decided to launch a property lettings and management company, as we know that there is such a strong synergy between the two businesses.

"Investors who we have helped through the auction process have been asking us to offer this service and provide a 'one-stop-shop' solution.

"Having Adrian at the helm means that we have a senior member of staff who has experience in building up and then managing a sizeable property management portfolio. I'm really excited at the prospect and can't wait to get really started."