Twin-Track Commercial Property Sales
Combining the expertise of our auction and agency departments to offer a new commercial and investment property sales option.
We are pleased to introduce Twin-Track, a bespoke strategy for commercial property sales which offers vendors an integrated approach for the sale of their properties. The new service combines the in-depth market knowledge and expertise of our specialised property services, auctions and agency departments, to provide a concurrent private treaty and auction disposal strategy.
Through Twin-Track, commercial sellers can now choose both the agency and auction route, giving them greater control over the disposal timetable. We have seen this become increasingly crucial to vendors since the onset of the Covid-19 pandemic. We are uniquely positioned as one of a handful of property firms in the UK that can combine auction and agency expertise.
Once a Twin-Track sales strategy is agreed, a private treaty sales process is set up and an instruction is allocated for a future Strettons auctions sale. The property is marketed to our combined private treaty, auction and investment databases and also across national property portals. A sale can be agreed and contracts exchanged on auction terms before an auction or the property can be referred to auction with a pre-agreed reserve.
We are proud to have raised £75 million for our clients at auction in 2020 with an average success rate of 90%. Our agency departments have secured over £280 million of transactions in the past 18 months. Combining the transactional expertise of both departments meets the changing needs of sellers brought about by the pandemic.
Mark Bolton, Strettons Commercial and Investment Agency Director comments: “We have seen an increased demand from sellers looking for certainty of sale because they need to dispose of their property assets as a result of the pandemic. Certain sellers are keen for a prompt sale and we feel the new venture will bring benefits to speeding up the process.”
“With Twin-Track we have created an approach which shortens the sales process and offers a private treaty sale on an auctions contract. This way legal packs and contracts are ready and there is no haggling over legal fees. Sellers can select the best bid and agree terms but have the confidence that a reserve is in place. They can set the price they want the property to sell for. We are pleased that we have the in-house capability and capacity to add Twin-Track to our range of services and that clients have welcomed this approach to selling.”
To learn more or for an appraisal on any properties in your portfolio, please contact Mark or Andrew.