Exchange of contracts
Cambo Ltd - acquisition of 18 Clover Street London W2
We act for Cambo Ltd acquiring the freehold reversion of 18 Clover Street London W2 for £700,000 subject to, and with the benefit of, two occupational business leases.
Both our client and the seller are ready to proceed. Our client has no related transaction. Each solicitor holds his own client's part of the contract and we have cleared funds for the 10% deposit. Formula B exchange is effected for completion as agreed in one week. We agree to instruct our bank to send a credit transfer of the deposit monies direct to the seller's solicitor's bank.
We prepare appropriate memos for our file recording the details of our conversations and, in our covering letter to the other solicitors, confirm the details of the telephonic exchanges, including the following documents: