"Suitability, Location & Price"
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 secure a quick sale. Dependent on whether the site is for development or an existing building, the following details should be available on request if possible.
- Planning Permissions, lawful use certificates and Use Classes
- Commercial EPC
- 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
- CSPE forms completed
- Draft contract
NB: 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 pack. This could reduce legal fees negating several requests from buyer’s solicitors seeking information on a piecemeal basis. The added benefit may result in a quicker completion of the transaction and improved cash-flow.