We hold national auction sales throughout the year, offering freehold and leasehold licensed businesses for sale in a wide range of locations throughout England and Wales. Our specialist appointed auctioneers are Fisher German, who are highly successful experienced national auctioneers and are long established with an enviable reputation.
It is an old adage that the value of anything is ‘the price a willing buyer will pay to a willing seller in an open market’.
Licensed properties such as pubs, restaurants and hotels have historically been valued as a function of sales turnover or profits of the business, and valuations by such criteria may be at odds with valuations based upon location, property size, facilities and condition, and the potential for alternate use.
An auction offers the opportunity for both buyer and seller to strike a deal at a price which satisfies both parties with the added advantage of a speedy outcome to a business transaction which can otherwise be a lengthy, stressful and complex process.
For freehold properties binding contracts are deemed to have been exchanged between buyer and seller immediately upon the fall of the auctioneer’s gavel and legal completion normally takes place within 28 days of the auction date.
If you are interested in selling your freehold or leasehold business at auction, please contact us on 01332 865112 to arrange a free no-obligation auction valuation or email firstname.lastname@example.org
The main benefit to the seller is that the Guy Simmonds auction service is designed to achieve maximum value for the property/business whether by auction or by private treaty. After extensive marketing by Guy Simmonds prior to the auction, the auction provides the opportunity for a quick sale whilst the principle of the ‘reserve price’ ensures the seller is not forced to accept an offer which fails to meet the expectations agreed between himself and our specialist auction valuer. Auction purchasers are determined purchasers and will have put any necessary funding into place prior to the auction in anticipation of exchanging contracts on the day. The right property can often achieve a price well in excess of a likely private treaty price. The power of the auction and the adrenaline created in the room, particularly with a property in serious demand, can dictate that purchasers bid more than they intended, to the vendor’s benefit.
The seller also has the opportunity to agree a sale by private treaty in the event of receiving an acceptable offer prior to auction and in the event of a sale not being achieved at the auction, Guy Simmonds will continue to market the property for sale by private treaty with realistic offers invited.
If you are interested in any of our businesses that you see advertised for sale by auction, please see our website for the property particulars. To arrange a viewing please contact us on 01332 865112. Full auction (legal) packs for each business are available for inspection at the offices of the vendors’ solicitors, or the Guy Simmonds office (by prior appointment only). The sales particulars are available on our web-site.
The buyer enjoys the certainty of knowing that a binding contract is formed upon the fall of the auctioneer’s hammer. This ensures the buyer cannot be ‘gazumped’ and can instead look forward to legal completion within an agreed timeframe (see auction/legal pack). The buyer enjoys the assurance that the seller cannot have a change of heart or increase his price after a successful bid has been made at the auction. The auction offers the buyer the potential opportunity to secure a bargain price. Alternatively, a buyer may choose to lodge an offer prior to auction in order to secure a deal (subject to auction conditions and acceptance by our vendor clients) and therefore avoid the possibility of being out-bid at the auction.
The General Conditions of Sale are attached to each business for sale particulars. For full terms and conditions see the respective auction (legal) pack.