Chapter 9 Commercial transaction case study

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