Sellers Guide

"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
  • Searches
  • 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.

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