If you are a commercial property owner looking to sell your buildings or land, please contact us urgently.

We are launching our ground-breaking online auction service this week which will enable commercial property to change hands efficiently while providing the property owner with a transparent, fast and more secure process.  Commercial property sales have traditionally been conducted by private treaty, changing hands through face to face meetings with a sometimes lengthy and complex conveyancing process. Prices were based on the maximum sum vendors were expecting to achieve and the whole process could take many months.

We’ve now identified an opportunity to speed the time-consuming process up, and to achieve a more realistic market value, by introducing an online auction system, similar to that used to sell residential property.

There were two systems available to us that we decided to tap into. In traditional-based  property auctions, when the virtual ‘hammer’ falls the buyer is required to pay immediately and the contract is effectively signed. Modern method auctions, a newer approach, are also attractive in that the buyer is required to pay a non-refundable deposit and has 56 days to exchange and complete which allows more time for them to put funds in place.

An obvious benefit of an online auction is that a comprehensive auction pack, which included title plans, searches and CPSE forms, is prepared in advance to save time with conveyancing and other paperwork, post acceptance of offer. What’s more, as we set a minimum price the property is expected to sell for, a more realistic market value is agreed and all the bidders can see who is offering what and when, and so there is more transparency.

Because we conduct everything online, it allows us to have properties on offer constantly and we do not have to wait for a specific auction date to come round. This means the auction can take place when it will benefit the vendor most.

The arrival of the Coronavirus in the UK means that as more people conduct their business from home the attraction of buying and selling property remotely has added appeal. Sadly for many business owners Covid-19 has appalling consequences, but they may be able to take comfort in the fact that there are still lots of buyers out there, meaning all is not lost. We are very optimistic for the future and see online auctions as a long-term benefit; increasing flexibility, widening the market and by improving legal processes significantly.

In the first instance sellers are invited to get in touch with James and the Halls Commercial Team on 01743 450700 or This email address is being protected from spambots. You need JavaScript enabled to view it., and we will refer you to our dedicated auction team for further advice over which auction method is best for them. We are actively inviting sellers to contact us, and have an extensive database of buyers who we will point towards the auction website. We encourage the business community to start planning for the future now.

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