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• Prepare to Sell Your Commercial Property at Auction

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Preparing the Information for Your Auction Commercial Property

As part of your marketing campaign, it is important to understand what information buyers are likely to require when considering purchasing a commercial property. The principal considerations are suitability, location and price. A complete range of additional information should be provided to prospective buyers, in order to generate competitive bidding. Dependent on whether the site is for development or an existing building, the following details should be available on request.

• Planning Permissions, lawful use certificates and Use Classes (Please refer to ‘Planning Permission and Use Classes’ Section for detailed information)
• Commercial EPC (Please refer to ‘Commercial EPC’ Section for detailed information)
• Business Rates and reliefs available (Although this is a new purchaser’s responsibility, information should be provided if available)
• Local searches
• Stamp Duty Land Tax (SDLT, buyer’s costs)
• Utility plans and capacities available
• Topographical survey (If appropriate)
• Asbestos survey
• Traffic assessment report (e.g. if development site)
• Demolition quote (If applicable )
• Ordnance Survey plan
• Detailed plans (If development site)
• Environmental report
• Site/ground investigation report
• Searches
• CSPE forms completed
• Draft contract

Although it is not compulsory to provide all of these documents (i.e. local searches, planning permission), it is considered best practice to provide a comprehensive legal pack. This could negate several requests from a potential bidder’s solicitors seeking information on a piecemeal basis. The added benefit may result in a successful sale at auction.