DMH Stallard's Corporate Group has completed a significant deal for the owners of Cophall Parking Gatwick Ltd, which involved the sale of the business and site to Group First, the investment arm of Park First, who are renowned for their world-class airport car parks.
Cophall Parking Gatwick, a family business with three decades' experience in providing sophisticated car parking solutions at Gatwick Airport, was approached by Group First in December 2015 who expressed an interest in buying the business with its quality reputation and excellent position at Gatwick.
With more than 11 years’ experience supporting Cophall Parking Gatwick to obtain planning rights to operate their car park business, DMH Stallard was the natural choice to support Cophall Parking on this key deal.
DMH Stallard was first instructed to manage the deal just before Christmas and successfully completed the sale on 29th February 2016.
Jonathan Grant, the Partner at DMH Stallard responsible for managing the sale, explained: “We have a great working relationship with Cophall Parking Gatwick, but that’s not to say that this project didn’t come with its challenges. The nature of the deal required the sale of both the business and the land, but required careful planning to preserve an area of land for our client that neighboured the site sold. We also had to satisfy the buyer’s requirements for site access and that our client had right of way over the retained land."
Emma Beasley from Cophall Parking Gatwick, commented: “We were delighted that DMH Stallard’s combined corporate and property teams were able to deliver this complex sale involving a number of connected property titles and a trading business, whilst preserving the full value of the deal.
“We had no idea how difficult projects like this can be to coordinate. DMH Stallard supported us through the whole process and approached every query and challenge positively, finding a solution for us quickly and efficiently.
“It was very involved and at times quite stressful, so we were very thankful to have DMH Stallard in our corner. I certainly don’t think we could have done it without them. If we ever need support again, I will certainly be instructing DMH Stallard.”
DMH Stallard has four offices in the South East of England – in Brighton, Gatwick, Guildford and London. This year, DMH Stallard won Corporate Law Firm of the Year award at Insider's South East Dealmakers Awards for the third time since 2012, which reinforces their reputation as a leading law firm in the South East region.
For more information please contact Jonathan Grant.