Owing to the pressures of the Covid-19 pandemic, Charles Darrow Network Auctions is experiencing increasing demand from business owners looking to sell their hospitality premises by auction. While government support continues, property availability is still low. However, market demand from buyers searching for former pubs, hotels, or restaurants for either investment purposes or alternative uses is high. We are seeing sellers successfully take advantage of the high levels of market demand right now, rather than waiting to join what is likely to become a saturated market, with an anticipated influx of commercial property likely to be hitting the market in the second half of 2021.To satisfy this demand, we are looking for entries into our next auction and will consider all types of property – including hotels, public houses, restaurants, and other leisure facilities (closed or trading) to name a few. Our company ethos is to achieve the best price possible by providing the most up to date accurate marketing advice to our clients.
Lucy Fuller, auction surveyor at Charles Darrow commented “An auction sale can often take as little as four weeks from instruction to an exchange of contracts, whereas a standard Private Treaty sale is currently taking on average four to six months to reach exchange of contracts, with no guarantee the buyer will not withdraw from the transaction at any point in the process.
Our auction process allows people to seriously commit to a purchase when bidding, as contracts will exchange instantly to the highest bidder at the fall of the gavel”. Sadly, a lot of business owners around the UK are now in some form of financial distress and with this likely to worsen as government support is gradually withdrawn, a quick method of sale is likely to be required by many of them before winter. We believe that selling by auction is truly the fastest and most certain way to complete a property transaction and we would love to have the opportunity to discuss your marketing options with you.
If we can help you, please contact the Auction team at Charles Darrow on 01626 572894 or 01626 330022.