The commercial property team advise on family trust

Thomson Snell & Passmore recently acted for a family trust in connection with the renegotiation of an earlier option and the conversion to a conditional contract. This involved two different sellers and various different land titles. We negotiated the terms of the new sale direct with the national house builder purchaser on our client’s behalf, assisted at times by the client’s agent. We then negotiated a complex set of documents, including deferred payment of part of the sale price guaranteed by bonds from a high street bank, at the same time dealing with negotiation and completion of a complicated 106 Agreement. Following the grant of planning permission we completed the sale. This was important for the client as it was the culmination of over 20 years works promoting the land for development, and allowed the client to retire with the benefit of entrepreneur’s relief.