Chapter 6 Commercial transaction case study

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

Timothy Wainwright and his family 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.

The following search results have been obtained for the property being purchased:

1. CON29DW Drainage and water enquiry (the form is not supplied but a sample answer is available)

2. Local authority search which includes:

• Official certificate of search

• Schedule to official certificate of search

• Replies to standard enquiries of the local authority

We will need to consider these results and decide if there are any entries in the searches where we need to obtain further details. See the review of the pre-contract search results for 18 Clover Street for details of any further information or additional searches which may be required.