Derby firm launches property auction site

Suzanne Bradshaw

A new online auction site which aims to modernise the secure buying and selling of commercial property has been launched.

Commercial Hub, the brainchild of Derby-based firm Mortgage and Finance Arena, is designed to speed up and simplify transactions of commercial and investment properties as well as land and development opportunities across the UK.

Once buyers have reserved a property through the site, they will have 56 days or 40 business days instead of the current 28-day time limit in which to raise the necessary finance, exchange contracts and complete the sale.

Suzanne Bradshaw, managing director of Mortgage and Finance Arena, said: “Commercial Hub has been prompted by feedback from many of our mortgage and finance clients as well as commercial property agents about the current limitations for both sellers and buyers.

“The site is totally focused on commercial property and has been designed to be a secure and effective option for sellers to generate more viewings and bids and then greater flexibility for buyers to complete a transaction.”

Co-director Michelle Makenzie-Cooper added: “Commercial Hub effectively provides a win-win situation for agents, buyers and sellers alike particularly in these uncertain times facing businesses and investors.

“Our aim is to modernise the commercial property market for all concerned and lead to an increase in successful transactions.”

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