In December, Transworld Business Advisors of London, secured a sale for a hairdressing business. However, the deal was not without its challenges.
“The seller was actually a neighbours of ours, who I’d introduced myself to when we first moved into our office. When it came time for him to sell, he made contact with us to help him through the process,” explains Michael Ziff, lead broker on this deal.
The buyer’s lawyer, says, “It was an extremely difficult deal, and a very fraught transaction. It definitely wouldn’t have gone through without Michael, who was excellent at dealing with a difficult situation. The biggest challenge came, when the buyer needed to obtain planning permission, in order to change the purpose of business on the premises."
The deal involved the sale of a leasehold, so Michael, and the Transworld London office had to go the extra mile, in order to secure the deal for both parties. “We needed to work with the seller, and his landlord if we were going to obtain permission for the sale of leasehold,” says Michael. “It was imperative for the relationship to be maintained, ready for when buyer became the leaseholder.”
As the buyer’s lawyer explains, “Michael was instrumental in chasing up planning permission, and was very helpful in dealing with the landlord, and their solicitors to gain consent for the lease transfer. He really is an excellent liaison.”
The buyer, was equally impressed, “I sold my business with the support of Michael at Transworld Business Advisors, London. He was a great help throughout the process.”