The portfolio consisted of 12 retail units let to a mixture of prime tenants such as Marks & Spencer, Gail‘s, Sweaty Betty, Anytime Fitness. 42 residential units, five office buildings and a significant car dealership let to Vertu. The buildings were located in Beaconsfield and Gerard’s Cross and had been in the same family ownership for over 70 years.
Our client was seeking to optimise value and secure effective inheritance tax planning to provide security for the family trust. It was concluded after significant consultation that a company sale to Custodian REIT would provide long-term secure income, mitigate tax, and provide long-term security for the trust.
FMX acted as investment advisor throughout the entire process negotiating the sale of the company on a mixed share and cash deal, with a total transaction volume of £36.5 million with further deferred consideration, subject to conclusion of significant lease events.
FMX have developed a specialism in disposal of family property companies with unique insight into the benefits of a corporate sale. Beyond accurately appraising the individual properties, it is also important to understand the tax efficiencies of a corporate mandate and identify which avenue is the most value for the vendor.
The transaction was concluded in under three months from the initial appraisal, which is significantly quicker than standard property transactions.
The vendor, Grove Court Properties, said the following about the sale -
“FMX have guided me through from start to finish, sourcing the right buyer, negotiating firmly but fairly, communicating brilliantly and setting the standards with high integrity. Thank you”
Enter your name and email address below to subscribe to our property email alerts.
