The figure is double the previous highest sales figure for a month – £2.5m in September – while the volume of sales also hit a record monthly high of 40.

The strong performance saw 28 residential units sold across Scotland and England, including a property in the Borders for more than £300,000, and one in the Highlands for more than £250,000.

Commercial units including a public house in Fife and a large portfolio of 22 properties in Lanarkshire were also sold by the company, which continues to underline its growing presence as one of Scotland’s leading auction houses since its first listing in the summer of 2022.

Bosses John Morris and Luis Guarin attribute the milestone month to an increasing confidence in Prime’s business model, pointing to the number of higher-value properties which clients are asking them to sell.

“It has been a very positive start to the year which is encouraging,” said co-owner Mr Morris.

“People’s confidence in buying and selling at auction is definitely on the rise and the service levels which we provide have resulted in a really strong February for us.

“We have a good team behind us and thanks to the reputation we have built, both buyers and sellers are happy to come to us.”

Operating throughout the UK, Prime’s recent sales have also included five pieces of land as well as vacant properties north and south of the Border.

“Higher value properties are selling well at auction, not just the lower end stock,” added Mr Morris.

“More and more people are now trusting the auction process to get their property sold – and importantly for us they are choosing Prime to do so. We specialise in selling property quickly for a fair price.

“Both Luis and I are property investors and trained surveyors and we have trained our team to not only understand investment metrics, and how to value properties for auction in order to get them sold, but also how to deal correctly with all the enquiries.

“Our focus is on building that momentum by increasing the number of listings we have while at the same time maintaining the customer service which has got us to this position.”