The sales will combine the market insight of LSH’s London and regional Capital Markets team with the clarity of a transparent and competitive bidding process via an online platform. The winning bid is legally binding, providing certainty for both buyer and seller.The properties include retail, leisure and industrial units in England and Scotland. Buyers can undertake due diligence via www.lshonlinesales.co.uk.
Ezra Nahome, CEO of Lambert Smith Hampton, explains: "We have a successful track record in taking traditional property transactions online and moving the investment market onto the internet is a logical next step.“LSH encourages staff to think beyond the obvious and look at better ways of helping our clients. This online investment sale platform is the latest initiative to emerge from our progressive philosophy and we will continue to break new ground with other exciting ventures over the coming months.”
- Glasgow - prime town centre supermarket investment. Bids sought in excess of £7m.
- Skelmersdale - freehold industrial investment within established estate. Bids sought in excess of £2.65m.
- Glasgow - three retail units. Bids sought in excess of £1.375m.
- Edinburgh - prominently located mixed-use investment/redevelopment opportunity. Bids sought in excess of £3.3m.
- Leeds - freehold mixed-use city centre investment. Bids sought in excess of £800,000.
Online sale information
Online sales open: 10:00 on Wednesday 29 June
Online sales close: staggered from 11:00 on Thursday 30 June
- Pre-registration will be required in order to bid, together with a written undertaking from a UK registered Law Society member for the required deposit amount - usually 10% of the sale price. The deposit must be paid by the successful bidder within 48 hours of the sale ending. Participants must register by Tuesday 28 June.
- If a bid is received within the last minute of the sale period, the timer will count down to zero and will then extend the sale with a 60 second window. If another bid is received, the bidding period will be immediately extended to 60 seconds - and so on until no more bids are received.
- The property will be sold to the highest bidder at or above the reserve price.
- Completion period is 20 business days.