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After successfully pioneering and introducing packs of search information for the residential market; - the Richards Gray Conveyancing Pack (RGCP) many of our clients have asked if we can produce the equivalent for their commercial divisions.
Accordingly, we have developed a range of Commercial Search Packs, designed to provide core search reports for the vast majority of commercial property transactions. In preparing these we use a comprehensive range of regulatory and private data sources to ensure that you are provided with the most up-to-date, relevant and accurate information available.
There are a number of key reasons why more detailed and comprehensive search reports are required for commercial as opposed to residential transactions:
- There is often a change in land-use involved (for example from industrial to office / retail, or to residential) where there could be significant risk that the land has contamination issues from its previous use.
- It is estimated by the Environment Agency that the UK has around 300,000 hectares of contaminated land.
- The “remediation requirements” for contaminated land were significantly upgraded in the mid-1980’s – so even if the land has not changed use since then, you may still be at risk.
- The liability cover provided on environmental and water search reports designed for residential purposes is severely restricted if a residential report is used for a commercial property transaction, usually to £5,000 or less. Any transaction involving a limited company (even for a small residential development) will be classed as commercial for this purpose.
The same advantages apply as for the residential market:
- A genuine one stop solution for all the specific searches you require – packs can be specifically tailored to your requirements (i.e. mining searches in appropriates areas).
- One point of contact, saving time and effort and thus improving efficiency and speed for your staff
- A competitive pricing structure and a significant saving versus ordering individually
- Monthly billing and payment – again saving time and cost.
- An average turn around time of just 5 – 7 working days
Our comprehensive personal local authority search for commercial property includes Part 2, Enquiry 5, Public Paths and Bye-ways as standard. All other Part 2 enquiries can be added if required.
If land is being acquired with more than one title there may be an additional charge, which varies by local authority, and you will be advised if this applies.
The Commercial Water Search provides a more in-depth report on all aspects of water and drainage for commercial sites. In addition to the standard answers for a residential search, the commercial report includes data on wayleaves, easements and trade effluent, and any other relevant information
 To assist in providing specialist advice we use the services of one of the leaders in the field, our partner GroundSure.
GroundSure is the only company in the UK to offer in-house environmental consultancy together with the most advanced historical land use data base in the market. Their advice is commercially focused, technically robust, user friendly, and carries comprehensive PI cover.
As well as the reports themselves, GroundSure can also provide commercial insurance solutions that meet all the current market requirements, with policies providing either annual cover or a longer 10 year period. They are also able to act for clients if detailed site investigations and remediation advice is required, and deal with the relevant statutory authorities.
Three reports are available, which are designed for different types of commercial development:
GroundSure Screening
Previously known as the GroundSure Risk Screening, this enhanced report, aimed at commercial conveyancers, architects and surveyors, comprises a desk based risk assessment for commercial property transactions and is particularly suited for large sites and rural estates. The new format and data ensures that this report remains at the forefront of interpreted commercial environmental risk assessments, delivering a fast, accurate and cost effective solution to the market.
GroundSure Review
Previously known as the GroundSure Environmental Review, this report reviews all high detail mapping to provide a more robust and in depth assessment on a site. This report also offers a fully comprehensive interpretation and guidance section that delivers detailed site history and advises on environmental liability for both conveyancers, lenders and other parties.
GroundSure Developer
Previously known as the GroundSure Developer Environmental Review, this report will continue to provide developers with an opportunity to undertake rapid risk screening at the pre-purchase stage of a site by delivering pertinent information up front. With the assessment section specifically focused on issues specific to Brownfield development, site assessment is easier and faster.
We have recommended one of these reports in each of the Commercial Packs.
Company Conveyancing Searches are used when a company or property owned by a company are sold to a third party. The search is usually one of the first background checks the purchaser will make before initiating further negotiations resulting in a Full Search being required.
The report analyses all outstanding mortgages and debentures a company owns. Each charge is listed with the date registered and a brief explanation on what it has been secured on. The report will also come with a summary of the company.
Packs can be ordered directly on-line through richardsgrayonline.co.uk or order forms can be downloaded from our downloads page.
If you require further information concerning the Commercial Search packages please contact your regional account manger or head office – contact details are here |
