Thursfields advises on sale of multi-million pound caravan park in West Midlands
A well-known West Midlands caravan park has been sold in a multi-million pound deal, thanks to expert advice from Thursfields Solicitors.
Tony Gibb, head of the Commercial Property team at Thursfields, advised the clients involved on the sale by auction, along with Associate Solicitor Nicola Pearce.
The sale followed advice to the Executors dealing with the property asset in the Estate from Sharon Oakley, a Director in the Wills and Estates team at Thursfields.
Sharon Oakley’s advice was needed on the continued running of business during the estate administration, on following complex estate rules and registration, and on Agricultural Property Relief and Business Property Relief.
Further work was needed from Sharon on liaising with numerous authorities to ensure smooth running of the business and corresponding with the HMRC on the tax position.
Tony Gibb said: “Here at Thursfields, we have a wide experience of caravan park sales and the specific work required, and we are pleased we were able to provide the advice the clients needed, leading to a successful sale.”
Sharon added: “This was a sensitive situation as, although the owner has passed away, the caravan park still needed to operate and provide essential services for the business operations. We therefore had to advise on many operational and business issues, as well as detailed liaison between multiple family members and numerous authorities, all of which we managed to accomplish to the benefit of all.”
The Executors were advised on the auction sale by James McIntyre of Halls Commercial estate agency, with completion achieved at the end of August following a successful farm and implements sale conducted by James McIntyre and held on site.
Anyone needing legal advice on complex estate and commercial property issues can contact Thursfields on 0345 20 73 72 8.