An Irish property auctioneer has paid an undisclosed sum for veteran London firm Andrews & Robertson, founded in 1855.

It plans to introduce online auctions alongside Andrews & Robertson’s salesroom business.

BidX1 says the acquisition will result in the second biggest property auction business in the combined Irish and British markets.

The first BidX1 UK online auction will be held in London in the spring and will be accessible to buyers and sellers from across Britain and around the world.

BidX1 managing director Stephen McCarthy said: “Having achieved tremendous success in Ireland, we have been planning to launch in the United Kingdom for some time.

“Andrews & Robertson is the ideal partner for us, and between us we believe we will offer an unparalleled service to clients wanting to use the whole range of auctions possible.”

Andrews & Robertson chairman and senior auctioneer Robin Cripp and director and auctioneer John Weatherall will both continue with the new business, and the Andrews & Robertson name will be retained.

Cripp said: “We are excited to be combining our UK market knowledge with BidX1’s online expertise to deliver an experience which will take auctions into the digital age.”

BidX1 changed its name from Allsop Ireland last August after the Irish part of the joint venture, Space Property Group, bought out UK auctioneer Allsop’s interest in the joint venture.

The Allsop Ireland partnership was set up in 2011, initially called Allsop Space, selling properties after the crash of the Irish market.

After last summer’s rebrand BidX1 said it would focus on online auctions both in Ireland and the UK.