Search Acumen, a proptech company focused on data insight, has recently updated the commercial real estate software it offers to help sift out the risks that come with property transaction.
The ForeSite platform now provides users with access to the Public Rights of Way data held by all 326 local authorities in England and Wales. The data covers footpaths, byways, restricted byways and bridleways open to the public throughout England and Wales.
Search Acumen claims that this is the first time that conveyancers and commercial property lawyers have been able to examine PRoW datasets as part of the real estate due diligence process.
According to the company, this feature “acts as an early warning system to notify clients – including investors and developers – of potential risks to a property transaction before they commit to a purchase”.
Founded in 2013, the Kent-based business develops data tools for conveyancers, solicitors and commercial property lawyers across the UK.
Andrew Lloyd, managing director of Search Acumen, said: “Public rights of way are a national institution enjoyed by millions of people, but they can also be a deal breaker for property developers and seriously impact the suitability of a property or piece of land they’re looking to purchase.
“By offering them a quicker path to full and instant disclosure of this information through our ForeSite platform, we’re equipping professionals with critical insights at the earliest opportunity – potentially even before a transaction has begun to progress.”
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