We helped our clients with the acquisition of:
i) a holiday lodge business operated in Cambridgeshire by one of the two sellers
ii) a residential dwelling owned and occupied by the second of the two sellers
We undertook a full due diligence review of the target business and its affairs, as well as an investigation into the title of the residential dwelling. We produced and negotiated the terms of a hybrid purchase agreement (catering for both transactions) and relevant ancillary documents. The property and employment features of the transactions were handled by our commercial property and employment teams respectively.
Documenting the acquisition involved a variety of complexities, not least because two separate buyers and two separate sellers were involved. We also had to liaise with a stamp duty land tax (SDLT) specialist in connection with the calculation of our clients’ SDLT liability which arose due to the completion of the two transactions.