Sanjeev Shah of Perrin Myddelton has recently completed a series of complicated residential property transactions for a long-standing client. Having originally purchased a Central London penthouse apartment in 2014 for circa £4m within 2 weeks of instructions, Sanjeev subsequently acted for all 12 apartment owners in the Block to purchase the freehold of the building from the developers for circa £500,000. This included the transfer of service contracts for the management of the building.
Sanjeev recently completed the sale of the penthouse apartment for £5.5m within a 2 week timeframe to non-resident buyers. This transaction was complicated by the seller’s hedge funding and other mortgage arrangements which meant detailed undertakings being negotiated with both the buyer and the lenders’ solicitors for the discharge of mortgages registered against the title to the property.