Location: Tyne & Wear – 816

• Fee Income for the Year Ended 31^st December 2022 was in the order of £325,000 and is profitable.
• Emphasis of work types are Residential Conveyancing and Wills, Trust, Probate and LPA’s.

Herewith Terms for the Sale/Transfer etc of Law Practice:

1. Goodwill, Work-In-Progress, Debtors, Furniture, Fixtures, Fittings, Equipment and Library – Offer invited.  The motor car to be an excluded asset.

2. Offices are fully furnished and chattels are transferrable to the acquiring practice.

3. The acquirer of this business to be the Successor practice.

4. Premises:  With or without office premises.

5. The acquirer of this practice will be required to take-over the unexpired part of all on-going agreements relating to future payments for software licenses, equipment, furniture, fixtures, fittings, storage rental, PI insurance, library and any payments made for the running of the practice.

6. Consultancy:

–     Principal offers consultancy working on a part-time basis.  Remuneration and duration: terms to be negotiated.

7. Employed members of staff:  Will transfer to the Successor firm in accordance with TUPE Regulations, i.e: on the same terms and conditions they presently enjoy.

8. Money held in Office Bank Account and Office Debtors do not transfer to the acquirer.  Clients’ Accounts, both Current and Deposit will be reconciled and transferred to the acquirer – the cost of such reconciliation will be borne by the vendor.  The vendor will discharge all payments to Creditors to include VAT and any practice Overdraft as at date of transfer of the business.  Ongoing payments commencing the first day after date of transfer of the business will be discharged by the acquirer of the business.

Excellent Opportunity!