TAILOR-MADE: NELSONS COMPLETES 67-DAY ACQUISITION ON LISTED BUILDING
Added by Love Business East Midlands | 3 February 2023
TAILOR-MADE: NELSONS COMPLETES 67-DAY ACQUISITION ON LISTED BUILDING
COMMERCIAL property specialists at East Midlands law firm Nelsons have successfully secured a prime location for a Nottinghamshire family-run business despite a 67-day deadline, the due diligence required for a Grade II listed building and dealing with the nuances of a complex title structure.
The work completed by Nelsons’ commercial property team ensured Black Butterfly Tailoring was able to move into a former art gallery on the vibrant Derby Road on time and as planned, minimising disruption to its clients. The tailors offer made-to-measure suits, bespoke clothing and wedding attire while also stocking big brand names such as Ted Baker and Monsoon.
Matthew Clarke, commercial property associate at Nelsons, said:
“The tailoring business needed to vacate its previous property in less than 70 days, which is an incredibly tight turnaround in comparison to the average transaction period. It was made even more complex by the need to complete due diligence as the building is Grade II listed in a conservation area.
“The chain of title was a complex structure and involved an aspect of insolvency so we had to establish the agreement with the superior landlord - in this case Nottingham City Council - and the sublease before proceeding with the completion.”
“Our team understands the importance of long-standing relationships and this case was a real example of the value it delivers on both sides. I have known Milen for more than four years and understanding the best way to work together really aided the process and helped to meet that all-important deadline so they could open for business. I wish them every success for the future.”
Milen Georgiev, co-owner of Black Butterfly Tailoring, said:
“We’re extremely thankful to Matthew and Nelsons for helping us to secure our ideal property with such limited time. I first met Matthew when he came in for some suit repairs and having that existing relationship with him and his team was hugely beneficial when it came to securing this new property.
“Since we opened our first Nottingham store in 2014, we’ve had ambitious growth plans, and setting up shop on Derby Road is helping us to realise those plans. We can’t wait to see what the future holds.”
The Nelsons commercial property team advises businesses across the East Midlands with acquisitions, leases and disposals, involving everything from large industrial units to smaller retail shops. The leading East Midlands law firm has offices in Nottingham, Derby and Leicester, and has been recognised in The Times’ top 250 law firms in 2022.
For more information on Nelsons, please visit www.nelsonslaw.co.uk.
