Nottingham's latest auction house has settled into a new office – as the man leading it says he believes it can rival other city firms.

Auction Estates, which forms part of property investment firm ALB Group, has been set up by Paul Giles and will concentrate on residential and commercial property auctions.

It launches this week after the new company moved into its own base, in Regent Street, within the professional quarter.

Mr Giles, who previously led Savills' commercial auction team, said: "It's vital for us to have an office here so we can be at the heart of the best street in the professional quarter.