Leisure and hospitality specialist David Williams (partner, commercial property) with support from Anna Bevan (paralegal, commercial property) and corporate advice from Henry Maples (partner) and Eloise Hall (paralegal) advised the sellers of Five Degrees West to companies within the Healey’s Cyder group.
Seller Vicky Hancock who has been associated with “Fives” since her parents bought what was then the Laughing Pirate in 1978 commented:
“Whilst there is inevitably some sadness in drawing a close to 40 years as either employee, landlord or publican, I am delighted that the pub is passing into a Cornish family group. I have every confidence that combining Healey’s position in the food and drink sector with the superbly capable management team here at Five Degrees West will see the business go forward for another 40 years.”
On the support from Murrell Associates, Vicky went on to say:
“David, Anna and their colleagues have been ever present since I marketed the business just over six weeks’ ago. Their experience in the hospitality sector shone through to deliver the best result for me, the continuing team in the business and the buyers.
David Williams (partner, commercial property) said of the transaction:
“This was a heart-warming deal to do with a second-generation independent operator in a genuine retirement position being able to sell to another second-generation family business based within 20 miles looking to diversify. The commitment from all parties to start and finish the sale in a month against the backdrop of a busy trading period for them both was particularly commendable.”
The transaction was introduced by SBC Commercial (Jeremy Beeching). The Sellers were advised by Stewart Hindley LLP (financial and tax) and Murrell Associates LLP (legal). The Buyers were advisors by Mark Holt & Co Ltd (financial and tax) and Michelmores LLP (legal).
Murrell Associates LLP is a law firm delivering advisory and transactional support to corporates, investors and organisations. For more information on our service lines and sector specialisms please visit www.murrellassociates.co.uk.