16 February, 2017
A Bournemouth family hotel has been sold for a seven-figure sum thanks to the expert legal advice from commercial solicitors Steele Raymond.
Two generations of the Clarke family owned and ran the busy Hotel Collingwood on the West Cliff for many years but decided to sell the hotel to The Dorset Hotel Limited with the legal support from Steele Raymond’s commercial team.
Steele Raymond’s legal teams have been advising on a variety of legal issues relating to the sale including, corporate law issues, property and employment law.
Commenting on the sale Director Lynne Palau said: “Having been in the family for so long, and such a loyal clientele, it was obviously a difficult decision to make. As a business, it is very important for us that we use the right advisers and an experienced commercial solicitor to ensure the transaction runs smoothly and achieves the best commercial outcome. Nick, and his team did an excellent job. Steele Raymond have depth of knowledge across all of their commercial teams which has given us the confidence in our decisions and clarity for the future.”
Steele Raymond partner and Company and Commercial solicitor Nick Davies said: “We had a unique perspective on this transaction having acted for the previous sellers of the Hotel many years ago. Lynne and family came to us off the back of having seen our work previously. The sale and purchase of the hotel was relatively straightforward but pre-sale there were many steps that required expert advice including the statutory de-merger of joint venture property investments and a capital reduction exercise at the company which ran the hotel. All work we have done before and enjoy getting involved in.”
Nick continued: “Working closely with a client to ensure they achieve their ambitions is a very fulfilling role to play; it was a pleasure to work with Lynne and help them navigate the complex legal issues. We wish the new owners of Hotel Collingwood every success.”