The Project
Director and Head of the Corporate and Commercial team, Paul Matthews, advised on the sale of the entire issued share capital of Wycliffe Hotel Group on behalf of the two shareholders. The sale was of significant importance to the client as they had run the hotel for over 40 years and it was critical to them to ensure it passed successfully into the right hands, enabling them to take on a new venture.
The property generated significant interest when it went on the market with an asking price of c£1m.
Paul worked closely with the client’s accountants, Harts, as well as with chartered surveyors and property consultants, Graham + Sibbald, to complete the deal on behalf of the client.
What WHN Delivered
Complexity revolved around issues on the loan accounts which Paul had to resolve to enable the deal to proceed.
The buyer’s solicitors would originally not accept the proposed method of dealing with the issue but Paul was successful in persuading them to accept the arrangements, enabling the deal to complete successfully and illustrating the benefit of his deep experience and strong negotiation skills in such matters.
Paul also worked closely with members of WHN’s commercial property team to deal with the property aspects of the sale.
About the client
The Wycliffe Hotel, on Edgeley Road in Stockport, comprises 14 en-suite bedrooms, a lounge bar with seating for 30 and a separate 80-cover restaurant and function suite for private dinners, parties, conferences and functions. The hotel is located in a desirable location within the Edgeley Park conservation area and had been owned by the same family for over 40 years, operated by Wycliffe Hotel Group.
