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Our Commercial Property Case Studies
- AuthorAndrew Ashley-Edwards
The commercial department continues to deal with a varied range of property and corporate transactions including:
Luxury Barns Project
Specialist commercial property solicitor Jane Laird represented a developer who purchased a farm at auction as a development project. Jane advised the client on the site’s legal title in particular reviewing restrictive covenants and easements that could potentially restrict the proposed development. An overage deed was also reviewed with particular focus on the definition of planning permission in the deed. The developer may develop some of the existing agricultural buildings on the site under the General Permitted Development Order and it was imperative for us to understand whether the client’s plans would be subject to the overage provisions.
Small business disposal
The commercial department’s Trainee Solicitor, Mignonette Ellis recently acted for the seller of a local small business.
Mignonette commented: ‘receiving clear instructions at the beginning of any transaction is pivotal. An agreed Heads of Terms is a particular useful instrument to guide the transaction based on the agreed terms of the parties. This is not always the way transactions pan out, as was the case with this sale. The buyer and the seller had engaged in various discussions prior to instructing solicitors and had reached a verbal agreement on the terms of the sale. Once it had been relayed to the respective parties’ solicitors, it became clear there was a discrepancy in the terms agreed. This required various exchanges of correspondence between the appointed solicitors and their clients.
Having acted on a variety of acquisitions ranging dramatically in purchase price and value, it remains clear that warranties and payment mechanisms are salient parts of any transaction, regardless of size. It is vital that time is taken to ensure your client understands the implications of providing warranties, and the pivotal distinction from indemnities. It is apparent once the seller appreciates the ramifications of warranties, more specific information surfaces. The ability to employ good negotiation skills and tactic is paramount, particularly when striking out warranties and demonstrating that the inclusion of certain warranties and particular wording is not acceptable.
Freehold company acquisition finally resolved!
Commercial partner Andrew Ashley-Edwards was delighted to bring to a conclusion a long running matter in recent weeks.
Acting for a group of leasehold flat owners, Andrew recently completed the acquisition of the limited company that owned the freehold interest in the building.
Andrew commented “there were an unusually high number of complex issues to be resolved relating to the structure of the ownership set up and a few quirks relating to the property itself. With the assistance of the seller’s solicitors we managed to resolved each of the issues at hand over a period of months. Eventually we reached a position where we could advise our clients to proceed with the comfort of those issues being resolved”.
This is another good example of the adaptability of the department to tackle transactions involving complex property and corporate issues.
Lease issues solved to allow sale to proceed
Experienced commercial property solicitor Khalid Mughal was tasked with tidying up some historic property issues before the sale of a small local business could take place.
Establishing the correct legal position relating to the tenancy and quickly regularising the position between the parties allowed the business owner to dispose of the business without undue delay.
If you think we might be able to assist you with any of your business or commercial property needs please call for a no obligation discussion with one of our experts on 01474546013 or email email@example.com