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More than 12,000 lawyers around England and Wales are to be asked to buy shares to fund the establishment of a Solicitors Property Centre likely to be located in Surrey.
The 12,700 solicitors who supported John Edge's campaign on conveyancing fees a year ago will be sent a business plan drawn up by Law Society Council member Anthony Bogan outlining the requirements and objectives of an SPC.
They will be asked to spend between £100 to £250 to buy shares in what is hoped will be the first of a nationwide chain of centres advertising properties for sale, then referring buyers to solicitors who will provide everything from an estate agency service, to financial services and conveyance.
The scheme rests on the Law Society funding the printing and distribution of information.
A delegation, which included Bogan and Solicitors Property Group executive officer Leslie Dubow, met with Law Society officials and its property and commercial services committee chair, Richard Hegarty, late last Friday to discuss the issue.
It is understood society officials are in favour of providing administration costs.
The British Legal Association last week asked its members to put their names to a motion calling upon the Law Society Council to set up a self-supporting SPC.
However, after establishing an SPC eight years ago which closed due to the recession, the Law Society is not keen to become commercially involved.
Backers of the Surrey SPC proposal, including Law Society presidential candidate Robert Sayer, also want no commercial involvement on the part of the society. They are forming themselves into an association to coordinate development of an SPC.
Glasgow Solicitors Property Centre chair Alan Simpson told a conveyancers conference in Richmond last week: "It is a long term investment."