UK First as Property Consultancy Assigned to Sell Virtual Real Estate

International property consultancy GVA Grimley has been assigned to sell the highly sought after and valuable Internet domain name sms.co.uk and has appointed Hollywood Internet Ltd to conduct a private tender sale.

(PRWEB) October 9, 2005 -- SMS.CO.UK – an Internet domain name synonymous with the telecoms and messaging industries - looks likely to set a record for the price of any UK based domain name to date.

Hollywood Internet Ltd is the Birmingham UK based company behind the sale, along with International Property Consultants and chartered surveyors, GVA Grimley.

The sale commenced this week and is being conducted by Private Tender and at the sms.co.uk web site, potential bidders are warned that a high reserve has been placed on the name.

David Carter, director of Hollywood Internet Ltd., says, “www.sms.co.uk is the biggest name ever to hit the UK resale market. The potential is enormous and we expect that all of the major telecoms and new media companies will be interested”.

The Tender Sale will take place on a sealed bid basis, with a closing date expected to be 4 November 2005 when all bids will be opened and the name will be sold to the highest bidder.

It is believed that this is the first time anywhere in the world that a major real estate agent has been involved in the sale of virtual real estate, a fact that is bound to generate excitement in the industry.

Russell Hobson of GVA Grimley said, "We at GVA Grimley have been extremely diligent about researching the market. We looked at valuation methods and agree with David Carter – there is no way to value a domain name accurately – it all comes down to what people are prepared to pay, hence the sealed bid Tender”.

Further information from:

David Carter

Telephone:0121 430 6715

Fax: 0121 733 8668

Web: http://www.sms.co.uk

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