by Octavia Bird and Stephen Gibson
A Redlands family, known for flying the Australian flag in front of their self-storage facility business, recently sold the commercial enterprise for a substantial amount.
The long-time, Redlands residents built the self-storage facility from the ground up, after their previous family business was tragically destroyed in a fire. These entrepreneurs, rather than rebuilding the previous operation, saw an opportunity to reinvent, customising the premises for modern, practical, self-storage solutions for the community. Since then, they had been involved in day-to-day operations, but all chapters must come to an end, with the owners handing over the reins to the business, allowing them to transition to their next stage of life.
As clients of MDL since the 1970’s, when the thought of selling arose, the family contacted the commercial team (Octavia Bird and Stephen Gibson), for guidance on the next steps. The team project managed the entire process, from initial advice to drafting and negotiations of the contract (for the business and commercial premises), and acting for the transaction (from the signing of the contract until settlement).
Octavia said: “It was an absolute honour to act for this Redlands family for this transaction. I enjoy acting for the sales and purchases of businesses as each transaction is different and there are many components to a business contract. You also are acting for people who are selling their “baby”, their business that they created from nothing, and also acting for purchasers who are excited in their next adventure.”
Budding legal talent Octavia, has acted for a diverse range of industries for commercial sale, including mechanics, nurseries, and carpet suppliers. When representing a client on either a sale or purchase, Octavia takes time to understand the inner workings of each business, to craft a contract that will facilitate a smooth transition for both the buyer and seller.
A business sale commonly involves either a leasing transaction, or a commercial property sale. At MDL, our team are equipped with extensive history in both leasing and commercial property transactions, so our clients are assured of high quality advice for all aspects of the business sale or purchase transaction.
“Many thanks for all you did with respect to the settlement, it is very much appreciated. I would like you to know you were very efficient and a pleasure to deal with. Again a big thank you to you and your team.” – Client Review
If you require assistance in sale and purchase of a business, contact the team at McCarthy Durie Lawyers on 07 3370 5100.
