The commercial property auction market has grown in recent years and is becoming an increasingly popular way of buying and selling commercial property.
When buying or selling commercial property at auction, preparation is key. The commercial property team at The Sethi Partnership Solicitors will ensure you are fully prepared and ready to go to auction, before committing to your sale or purchase.
What type of commercial property can be bought or sold at auction?
There are many different types of commercial property that can be bought and sold at auction, including:
- Retail Premises
- Leisure Investments
- Land and Buildings with Development Potential
Buying and selling commercial property at auction
If you are looking to buy or sell commercial property at auction, it is recommended that you obtain legal advice and assistance to prepare the conditions of the sale. Our commercial property lawyers can also carry out due diligence on the auction pack, which will include any searches, enquiries and considerations concerning the property being auctioned.
Buying commercial property at auction
Buying UK commercial property can be a good investment. Whether you want to purchase commercial property for your own business to operate out of or to add to your investment portfolio, buying at auction is a much faster way to buy than the traditional conveyancing process, and prices can be lower than market value.
Selling commercial property at auction
In the past, most properties at auction were for sale because they couldn’t be put on the open market. In fact, in the current market, selling your commercial property at auction can be a quicker and a more convenient way to sell however, before selling your commercial property at auction you should be aware that preparation is everything It is extremely important your auction legal pack is prepared by experts who have extensive experience and this in turn will ensure your commercial property is attractive to potential buyers as well as reaching the highest potential bids.