Chapter 4 Commercial transaction case study

Taking instructions and other initial matters

Taking instructions and other initial matters

Our client:
Cambo Ltd - acquisition of 18 Clover Street London W2

Timothy Wainwright and his family are established clients of our firm and have run a successful wholesale clothing business for many years. Timothy and his wife have now decided to sell the business and enter the world of property investment. He has formed a company called Cambo Ltd in which he, his wife, and their three sons are shareholders. Cambo Ltd has agreed, subject to contract, to buy 18 Clover Street London W2 for £700,000 subject to, and with the benefit of, two occupational business leases. The property was built 70 years ago. A commercial mortgage has already been arranged in principle.

After taking initial instructions we will send our client our Terms and conditions of business together with an estimate of conveyancing charges and an initial letter to the client.

For useful guidance on taking instructions and giving advice please see the list of key points we have put together.