Commercial Investment, Chessington 2017
Another example of a client finding the property themselves and instructing GPC to handle the purchase. This new commercial client was recommended to us by a long standing residential client. He wanted to make a commercial investment to put in to his pension pot and had seen a property coming up in an auction. The client did not want to chance his luck ‘in the room’ and asked us to buy it for him prior to the auction. This looked like a non-starter as the auctioneer told us categorically that the seller wanted the building to ‘sell in the room.’ However, after some persuasion, negotiation and a very sensible offer from a very canny buyer we agreed a purchase on the basis contracts were exchanged the next morning. This was agreed at 17:45 on the Wednesday and by 10:15 on the Thursday the deal was done. That’s the beauty of the auctions (sometimes!). Property bought at £450,000; we are pretty sure it would have reached over £500,000 had it gone to the room.