Shepherd launches online commercial property auctions
Shepherd Chartered Surveyors has launched an online commercial property auctions platform offering both ‘Live Broadcast’ virtual auction room sales and a separate online bidding facility at www.shepherd.co.uk/commercial-auctions.
Following a year in development by Shepherd managing partner Steve Barnett, the firm has appointed online property auction business development specialist Barry Dunlop to spearhead the new platform.
“A growing number of potential investors are considering property auctions for all types of commercial investment due to the transparency and simplicity of the process,” said Dunlop.
“Having observed the emergence of that trend pre-lockdown and, even more so, post-lockdown, our online auctions platform provides a clear and transparent method of sale with the competitive nature of the bidding platform and the virtual on-line auction room offering the potential to create significant demand resulting in satisfactory sale prices being secured.”
Shepherd Commercial Property Auctions offers clients two types of auction. The first is an online bidding platform whereby prospective buyers sign up to the platform and submit bids for properties within a set timeframe, having been processed through the various regulatory money laundering checks and registered as buyers.
The second type of auction involves the posting of various lots online for which the auctioneer invites pre-authorised buyers to post bids via a live broadcast.
These processes are enhanced further by Shepherd’s traditional RICS qualified commercial agency teams operating throughout Scotland from its network of 34 offices incorporating 11 dedicated commercial centres across the country, thereby offering both virtual and physical property viewings.
According to Barnett, the introduction of its online auction facility marks the latest stage in the continuous evolution of the range of services Shepherd can offer to the dynamic commercial property marketplace.
“Our online auction house complements our existing commercial agency services that we can offer our long-established private and public sector client base,“ he said.
“It has been designed specifically to meet the needs and demands of a growing number of clients who have expressed a wish to have an option to transact commercial properties online. This has been an emerging trend prior to the advent of the coronavirus pandemic that has become more prevalent since, as clients have experienced frustration at being unable to transact commercial property through traditional channels.
“While we are very active in the marketplace offering traditional sales and lettings – indeed within the first six weeks of the easing of the initial lockdown measures we experienced a healthy deal flow and transacted over 54 deals for a mix of office, retail, leisure and industrial properties, with £7.8 million of sales, lettings worth over £575,000 pa and more than 195,000 sq ft of space let or sold – our online auction facility offers clients an additional marketing platform as we enter the ‘new normal’; a digital era within which digital technologies play a central role in property transactions.”
Shepherd Senior Partner George Brewster added: “As an award-winning practice in Scotland’s commercial property sector with a long-standing pedigree of providing in-depth local market knowledge and advice, the launch of Shepherd Commercial Property Auctions adds an online offering to our local and national service to clients who can be assured by the guarantee of expert advice from our team of fully-accredited professional chartered surveyors operating throughout Scotland.
“As senior partner, it’s gratifying to witness the constant drive, evolution and forward thinking of the commercial agency teams throughout the length and breadth of the country as exemplified with the launch of this online commercial property auctions platform.”
Log onto www.shepherd.co.uk/commercial-auctions for further information.
For further information please contact Steve Barnett on tel 0141 331 2807