Laying the foundations for the future of longstanding family business

Real estate lawyers at Harrison Clark Rickerbys helped their clients to lay the foundations of a new family business with their children.

The property, which was originally held by the clients’ parents and then in shares between siblings, was part of a longstanding family business. The clients lived on the site and had been the driving force in developing it over recent years. They wanted to acquire the land fairly, paying a price that reflected the additional work they had put in, to enable them to plan the future of the evolving business with their children.

Claire Leyshon, partner within the Thames Valley real estate team, negotiated what was a difficult acquisition. It included a complex overage deed which would allow the siblings to benefit from any large increase market value from a windfall redevelopment, whilst allowing sufficient space for the clients to continue to grow their business.

Thanks to Claire and the team’s expert advice, the client now has a secure site on which to move their business forward, planning with their own adult children who are hoping to run new ventures alongside the existing leisure use. The client thanked and praised Claire for her “hard work and persistence in this matter.”