Search Acumen has launched an online platform specifically dedicated to commercial property transactions.
The launch hopes to transform the due diligence process by providing real estate lawyers with instant access to commercial property data sets and the ability to conduct and manage a portfolio of property searches in one place.
Andrew Lloyd, managing director at Search Acumen, said: “Our new platform is an exciting and revolutionary step forward in filling a gap in the market for commercial transactions.
“The commercial platform aims to kick-start a transformational move by giving commercial lawyers access to big data that meets their individual needs and narrows down the products and searches required for their specific transaction.
“It will also cut workloads, provide a more efficient service and help to enhance productivity levels.”
The platform is the commercial market’s first integrated system that streamlines free access to data and information a real estate lawyer needs to reference when carrying out due diligence on a commercial property transaction.
The site uses up-to-date data from sources such as Land Registry’s National Polygon data set, Ordnance Survey and the Environment Agency.
The data available will provide free of charge details on issues such as flooding, conservation areas, listed buildings, official registers and charges prior to ordering searches.
Lloyd added: “Searches are only a small part in the journey in a commercial transaction, but are too often burdened by incomplete data and vulnerability to delays.
“By having all the tools that lawyers need in one place, the complexity of commercial real estate deals can be streamlined and all the pieces of the puzzle can be made visible in a single destination.
“However this is only the start of the journey, and we strive to continue to serve law firms of all sizes and specialisms with more data and technology that works in real time and refines the search selection process even further.”