Thomson Snell & Passmore advised the owners on the sale of their 22 bedroom residential care home business in St Leonards-on-sea, East Sussex.
TS&P advised the sellers on the comprehensive legal due diligence process, investigation of title, the drafting and negotiation of the business purchase agreement and the sale and transfer of the freehold property.
The transaction was complicated by the fact that the buyer had to apply for new CQC registration, requiring a split exchange and completion of the acquisition. This required detailed provisions in the transaction documents dealing with the operation of the business during the intervening period.
The TS&P team was led by corporate partner, Nick Gabay, who was supported by commercial property associate, Oliver Butler.