The Brief

An individual overseas investor had just succeeded, after a tense sealed bid process, in purchasing an 11 serviced apartment block in Kensington for c£5 million. He needed help with all aspects of the deal and ongoing legal requirements.

 

Our Solution

Thanks to our expertise in this area, we were able to provide a “one stop shop” solution and advised the client on all aspects of the acquisition and ongoing needs including:

  • the purchase of the property
  • the business set up
  • transfer of employees
  • assignment of contracts and leases
In addition, there were various tax issues at stake where we arranged for specific tax advice and  Counsel’s opinion. The seller’s consent and assistance was required for the use of a tax scheme to aid in tax savings for the client. This was unfortunately not forthcoming. In its absence however we were able to negotiate a not insignificant reduction in the purchase price.
We also introduced the client to a number of our business contacts in the areas of personal finance, insurance, accountancy and book keeping.

We acted on the bank financing element dealing with the facility agreements and guarantees and exchanged just in time on Christmas Eve!

We continue to advise our client on various commercial matters including:

  • redrafting their booking terms and conditions
  • employment contracts for their staff to bring them all up to date including a staff  handbook
  • business immigration issues
  • dealing with guest relations
  • contracts with suppliers.

 

Results

“As a first time commercial investor in the UK market I was understandably very cautious at the onset of this deal. However once I had Shainul and her team on board, I was able to focus on the strategizing part of this venture, and leave all other matters to them with complete confidence. Despite the pressure of pre-Christmas crunch time, I never once felt rushed, or the fact that I was not a priority for the team at Fortune Law. The way in which each member of Shainul’s team invests themselves in their clients is an incredibly rare quality to find in a law firm.

Fortune Law has consistently stepped up whenever I needed their help and no task has ever been too much trouble or not worth their time.

On occasion I have been pleasantly surprised by them pre-empting my requests and being completely prepared when I have asked for something. To place complete trust in your advisors is not an easy task, yet when you partner with an extraordinary team such as the one at Fortune Law, you cannot imagine working any other way. This is the reason that even after we completed the deal I have kept working with Fortune Law and hope to do so for the years to come.”

Your Dedicated Team at 51 Kensington Court

 

If you are a hotel owner/manager or a professional adviser and think we can assist you or your client with specific commercial business needs or for further information please contact:

Shainul Kassam
17 Hanover Square,
London,
W1S 1BN

Tel : 020 3102 6370
Email: skassam@fortunelaw.com

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