The summary report, produced with the assistance of Bryan Cave Leighton Paisner, CBRE and HM Land Registry, explores the process of selling a commercial investment property. It covers from the point that a decision to market the property is made, up to the completion of the Land Registry’s registration processes, highlighting causes for delay in the current transaction process, applicable technology including blockchain and property passports, barriers to the adoption of technology, and the drivers of change.
Reed Smith supported the project through its Innovation Hours scheme, which provides up to 50 hours of billable credit for lawyers to work on qualifying projects, actively encouraging them to develop innovative solutions, resulting in the generation of new products and ideas.
Following a successful pilot of Innovation Hours in 2017, the results led to a firmwide roll out and the summary report is one of the projects that has now reached completion. Created as part of The Oxford Future of Real Estate Initiative at Saïd Business School, University of Oxford, the report explores the potential impact of new technologies on real estate transactions.