A FAMILY-run auctioneers has unveiled plans for a major redevelopment which will create a venue equipped to hold events for more than 500 people.

Tennants Auctioneers, in Leyburn, North Yorkshire, today (Wednesday, June 5) staged a sod cutting ceremony to officially launch its multi-million pound 52-week build.

Chairman Rodney Tennant said it was an exciting time for the family, its staff and clients.

“We got to the point where we needed more space in the sale rooms ahead of auctions, but the idea was to make the new space as multi-functional as possible,” he said.

The project – costing around £9m - will see the auction house double in size, with an extension fitted to the side of the main building.

It will include a large conference room with a stage that can be used as an auditorium to seat 550 people, with additional seating in adjoining rooms that can be opened up.

The extension marks the 20th anniversary of Tennants at the Leyburn site.

His daughter Jane, who is a director of the company, said: “We won’t be competing with anyone else in the area so we very much see this as an opportunity to work with other organisations running festivals or events, to run as part of them.

“We can hold concerts, functions and drama productions as well as having a larger space for antique sales, which was the main reason for expanding.”

As well as the large function spaces, the new Tennants building will also include a large gallery area to display special and rare antique finds as well as art exhibitions.

Mr Tennant said: “We sometimes get some really interesting and amazing pieces that go through a sale but I sometimes wish we had the space to display them for a few months beforehand so people can see them, whether they are buyers or not.

“This gallery space will have a three-month turn around period so there will be something new on a regular basis.”

Tony Hubbard, architect partner with Langtry Langton, said it was a challenging project.

“It’s a complex design, and one of the key things is to maintain the function of the auction house while the works are going on.

“When it is finished it will be a tourist destination in itself – there will be no other place like it.”

The project is due to be finished by summer 2014.