Location: TYNE & WEAR – 907

Headline Points

1. General Overview:

• Well established.
• Main areas of expertise are Residential Conveyancing, Matrimonial Law, and Wills, Trust & Probate.

2. Financial Overview (Indicative Summary)

– Year End is 31 March
• Work-in-Progress (WIP) in the order of £200,000
• Sales for the Year Ended 31 March 2026, £723,554
• Sales for the Year Ended 31 March 2025, £721,074

3. Payment and Settlement

• The business to transfer to the buyer on a cash-free, debt-free basis, with no liabilities passing to the successor practice.

4. Professional Indemnity Insurance

• Professional Indemnity Insurance is in place for the period 1 October 2025 to 30 September 2026.
• Annual premium, including IPT: £28,337.34. Paid for the year.
– There are no Notifications made by the practice to its Indemnity Insurers, nor are there any Professional Negligence Claims against the practice nor are there any disciplinary findings, sanctions, or open SRA investigations.

5. Operations & Compliance

• Work mix – circa figures:
– 45% Residential Conveyancing
– 25% Matrimonial
– 15% Low risk work
– 15% Wills, Trust, Probate: contentious and non-contentious

6. Proposed Terms – Sale / Transfer etc to Successor Practice

i. Consideration:
• Offer invited for the goodwill, work-in-progress, furniture, fixtures, fittings, equipment and library.

ii. Structure:

• Transfer to the Successor Practice.
• Business transferred on a cash-free, debt-free basis.

iii. Staff:

• All employed members of staff will transfer in accordance with TUPE regulations, on existing terms and conditions.

iv. Consultancy:

• Outgoing principal available to provide post-completion consultancy to ensure a smooth transition (terms to be agreed).

Excellent opportunity!