After 23 years of running Avon Gold Premier Store in Keynsham, Somerset, it is now under new ownership as former owners Tony and Alison Mallaban are retiring.
The convenience store which was proud to serve Keynsham and beyond will be serving the community once again as it is opening as a SPAR store, following a refit.
The AMD Solicitors team was made up of Company and Corporate Solicitor Anna Sivula, who advised on the sale of the business and dealing with the surrender of the lease was Helen Brewer, Commercial Property Solicitor.
Anna Sivula commented:
“Helen and I were delighted to be involved in the sale of the business. The transaction had its challenges with the announcement of lockdown but we were able to achieve a great end result.”
Tony Mallaban added:
“Selling a business is a complicated matter and can often include the solicitors of three or more involved parties. When dealing with matters such as due diligence and dilapidations it is important to have the right people working for you. We were fortunate to have Anna Sivula, Helen Brewer, and the AMD team to take us through the process which was made even more challenging due to the Covid 19 lockdown.”
Helen Brewer commented:
“Where a tenant who has been in occupation of their premises for as long as Mr and Mrs Mallaban have, and they are looking to exit their lease, it is important to get advice as early on as possible with regards to dilapidations. This then means you have sufficient time to negotiate a suitable settlement with the landlord and carry out any necessary works before the lease comes to an end. I am pleased that we were able to achieve a successful exit for Mr and Mrs Mallaban from their lease with a dilapidations settlement that was fair to both parties.”
AMD Solicitors Company & Commercial and Commercial Property Teams’ in Bristol provide strategic corporate and property advice and excel in business acquisitions and disposals. If you are ‘thinking about buying a business during coronavirus’, Anna’s article outlines some useful considerations for buyers.
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