KYC has been specialising in aircraft and structured property finance since 2004 and announced plans back in early 2008 to expand into European markets. However, the company have announced that they can no longer continue trading due to what they call, “the continued economic downturn which has had a catastrophic effect on our business levels”.

The closure will result in the loss of 14 jobs.

Sellmycommercialproperty.co.uk is a joint venture between Clapper Holdings and Werth Associates and will sell all types of commercial property across the UK, including shops, offices and industrial units. It offers decisions on whether to purchase or not and offer prices within 48 hours, and has no agency fees.

Intermediaries who introduce property owners looking to sell to the site will receive fees up to 1% of the sale price, payable upon completion.

Clapper, chairman of sellmycommercialproperty.co.uk, said: “The pressures faced by intermediaries due to the lack of lending supply over the past few years has meant that diversification into areas where strong client relationships can be utilised has become essential for ongoing survival.

“I’m a firm believer in the power and resilience of UK intermediaries, so our proposition incorporates the opportunity for intermediaries to significantly boost income whilst helping their clients, and all during the normal course of their daily business activity.”

Jason Werth, managing director at sellmycommercialproperty.co.uk, added: “UK commercial property has experienced even more turbulence than residential has over the past few years and this trend is likely to continue into the foreseeable future. In recent months, commercial prices have rebounded in certain sectors and locations, further increasing the price differential between prime and secondary stock.

“We are now starting to see an increasing number of owners looking to exit whilst economic factors remain so uncertain. In our view, this is the time for experienced investors to be seeking opportunities with a longer term view.”