Chapter 7 Commercial transaction case study

Town and country planning

Our client:
Cambo Limited - 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.

Search results have been obtained for the property being purchased (see Chapter 06). Having considered the results of the searches we have decided that further consideration of planning issues is required.