Buying & selling
Dealing on the company's own account
Petley Limited buys occasionally and sells occasionally. It buys for itself, not for a client, and it is under no obligation to buy anything at all.
Offering a property to the company
Owners, solicitors and agents write to the company about property from time to time. Those approaches are read. Because the company buys for its own portfolio and not to a mandate, the answer is often no — but it is given, rather than left hanging.
A proposal is easier to answer usefully when it is complete. If the essentials are set out at the start, the company can form a view without a long exchange of letters.
Selling
The company sells from time to time. A sale is a decision about a particular building, taken by the company for its own reasons, and it is not something the company advertises here.
If you are interested in a building you believe the company owns, write and say which one and what you have in mind. You will be told plainly whether it is something the company would consider.
Nothing is agreed until it is written
Interest is not an offer, and an offer is not a contract. Anything said in correspondence is subject to contract and to the company's satisfaction on title, condition, tenancies and everything else it chooses to look at. Terms, and any costs falling on either side, are set out in writing before anything is committed.
The company gives no advice, valuation or opinion to the person offering a property. It forms a view for itself. You should take your own professional advice.
A proposal is best with
- The address and the tenure
- Whether it is vacant, occupied or let — and, if let, the shape of the tenancies
- Residential, commercial, or mixed
- Its present condition, and anything known to be wrong with it
- The price sought, and the seller's position and timing
- Who you are, and whether you act for the owner
What the company will not do
It does not act as an agent, does not market property for other people, does not hold deposits or client money, and does not introduce buyers to sellers for a fee. Its only interest in a transaction is as principal.
Registered nature of business
The activity recorded for the company at Companies House is 68100 — Buying and selling of own real estate. That code describes this page exactly: the company deals in property it owns or intends to own, on its own behalf.