10/03/2016

Thursfields Advises on Acquisition of The Old Saltbrooke Inn

Tony Gibb, Director and Head of Commercial Property at Thursfields, has recently advised Neal Shipley of N.R. Shipley & Co on the acquisition of land and buildings at The Old Saltbrooke Inn in Stourbridge. The client purchased with a view to redevelopment, including demolition of the pub and thereafter construction of commercial units and ancillary car parking. The acquisition raised various challenges including the historical use of the site, its location adjacent to a water course, the presence of Severn Trent apparatus within the title to the property which was protected by statute and limited the development area and, last but not least, ensuring the seller kept the site secure up to the point of sale, as part of the property was being used for unauthorised horse grazing.

Neal commented: “Tony and his team at Thursfields understand the complexities of property development. Tony put me at ease throughout the transaction by identifying and advising on the risks and his expertise helped ensure the transaction ran smoothly”.

Tony says: “I was pleased to be able to overcome the many and varied obstacles to secure the site for my client and I await with interest his future development plans. The transaction proceeded following a report to the client of all the risks involved, which were largely mitigated through further enquiry of the sellers,  and where they were not, my client was able to take a commercial view on the risks and manage or discount each one of them.”

Tony specialises in commercial development work including pubs, retail and industrial premises and will be pleased to assist you or your clients. To contact Tony please call 01905 730450 or email tgibb@thursfields.co.uk

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