Chapter 9 Commercial transaction case study

Mortgages

Mortgages

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 been arranged with Blakey Bank Plc. Click on the links below to access the supporting documents:

Instructions from lender

Legal charge of 18 Clover Street

Declaration of occupancy with leases summary

Board resolution of Cambo Ltd